The systemic crisis is the institution of bankruptcy through the prism of bringing financial managers to property liability

The author analyzes the practice of bringing arbitration managers to property liability in the form of compensaion for losses. Based on the results of the study, he draws the following conclusions: there has been a transformation of the instrument for recovering damages in the framework of the bankruptcy procedure; tightening the liability of arbitration managers does not lead to the desired result; criminalization of the institution of bankruptcy is the main reason for the crisis of this institution. According to the author, all this is due to the fact that when changing the legislation, an analysis of all the factors affecting the activities of the arbitration manager was not carried out. An effective way to solve the identified problems can be, in particular, a change in the conceptual approach to the distribution of risks in relation to the property liability of arbitration managers.