“The fate of the proceedings on the bankruptcy of a citizen” — article by Alexander Sergeev and Tatiana Tereschenko for Arbitration disputes
To the question about competition
Provisions on bankruptcy of individuals of the Federal law of 26.10.02 № 127-FL "On insolvency (bankruptcy)" (hereinafter — the bankruptcy law) came into force more than two years ago. The law enforcement practice is gradually developing, but a stable position based on understanding of the specifics of the relations and the peculiarities of the legal status of the relevant subjects has yet to be developed regarding a number of issues.
There are many examples, one of them is the ratio of the rules on bankruptcy, inheritance and process. If a bankrupt citizen dies, how does this affect the course of bankruptcy proceedings? Is there a succession and is it necessary to resolve the issue of it under the general procedural rules? When and in what capacity it is necessary to involve in the bankruptcy procedure of the heirs?
The essence of the answers to the questions is important for the choice and justification of such position, which not only takes into account the objectives of legal regulation of both bankruptcy and inheritance, but also allows instead of a conservative solution that freezes the situation and eliminates serious errors, to take one that is most effective in terms of time and financial costs.