Analysis of bankruptcy procedures in Russia and the EU: disadvantages and prospects of the solution

In this article, the authors consider the peculiarities of the interpretation of the concept of bankruptcy and the types of algorithms of actions for its practical implementation in the legal field of the Russian Federation and the EU countries, in particular Germany in relation to legal entities. The almost identical interpretation of the definition is reflected and the difference in the mechanisms of bankruptcy procedures is shown, in particular, for the purpose of rehabilitation or liquidation of the enterprise.