Bankruptcy of legal entities in Russia

Economic instability, volatility of business environment, increased financial and economic crises have a significant impact on the financial stability of enterprises in different sectors and forms of ownership. In this regard, the study of financial stability management and processes preventing bankruptcy are becoming ever more relevant. The initial phase of such a research is the statistical study of bankruptcies in Russia. The authors consider the companies recognized as bankrupts in the period of 2012-2015. The materials of the Federal Statistics Service, the Federal Register of Bankruptcy Data, the Federal Law dated 26.10.2002 N127-FZ "On Insolvency (Bankruptcy)", the Criminal Code of the Russian Federation, thesis researches in the field of law and economics were used as a data base. The bankruptcy dynamics of legal entities and its grounds are discussed. The authors consider the increase in the number of bankruptcies and the lack of effective measures aimed at timely detection of fraudulent bankruptcy in the total share.