Bankruptcy procedings of legal entity in Russian legislation

Bankruptcy proceedings of a legal entity are a set of measures aimed at providing assistance to an insolvent debtor. To ensure the rights and guarantees provided by applicable law, bankruptcy proceedings are divided into several stages. Federal Law "On Insolvency (Bankruptcy)" provides for special procedures: supervision, external management, financial recovery winding up proceedings and settlement agreement. Proper implementation of these procedures can provide maximum protection for the interests of both the debtor and the creditor.