MORATORIUM IN UKRAINE’S INSOLVENCY LEGISLATION AND ITS COMPARATIVE ANALYSIS WITH FOREIGN PROCEDURES (EXAMPLE OF THE CZECH REPUBLIC)

Abstract

Relevance of the topic. In modern domestic insolvency legislation, there is a rather long discussion about the suspension of obligations in bankruptcy procedures – a moratorium on satisfying creditors' claims (hereinafter referred to as the “moratorium”). The concept of “moratorium” formally contradicts the conditions of its application, so we see the need to analyze both the concept and the application of the “moratorium” and, based on the analysis, to isolate its impact on the fulfillment of obligations taking into account solvency, since uncertainty leads to abuse of procedural rights. A number of issues also require attention, namely: the legislative approach to dividing creditors into two categories is ambiguous: bankruptcy creditors, whose claims are suspended during the moratorium, and current creditors, whose claims are not subject to the moratorium, which creates primary discriminatory conditions for creditors. The duration of the moratorium also requires changes, which accordingly delays the terms of fulfilling obligations to creditors. Purpose. The article is devoted to the institute of procedural law – “moratorium” on the satisfaction of creditors' claims in bankruptcy procedures. The article is devoted to the study of the moratorium in domestic insolvency legislation and its comparison with similar institutions in the legislation of other countries. This scientific work uses such research methods as comparative legal analysis, generalization and systematization. Conclusions. During the disclosure of the concept of moratorium, its essential features and differences from other measures of influence on the order (procedure, method) of fulfilling the obligation were determined. Special attention was paid to errors in defining the concept and the consequences of such errors in law enforcement. Based on the results of the analysis of the concept of “moratorium” in bankruptcy procedures, ways to eliminate imperfections and rules for its application were proposed. The concept of “moratorium” in bankruptcy procedures in accordance with the legislation of the Czech Republic is reflected and the essence and purpose of this measure in insolvency procedures are outlined, common features and differences compared to the institution of moratorium in domestic legislation are given. Conclusions are drawn regarding the appointment of a moratorium in bankruptcy procedures, the feasibility of its application, and a comparison of this tool with similar foreign institutions is made. The elimination at the legislative level of the discriminatory position of bankruptcy creditors compared to current creditors as a result of the introduction of a “moratorium” is an urgent issue on the path to improving legislation and implementing reforms.