Comparison of Russian and foreign methods of bankruptcy

The article reveals the concept of insolvency (bankruptcy). Author''s definitions of insolvency (bankruptcy) are given. The указывают practice of applying bankruptcy methods is analyzed, the advantages and disadvantages of Russian and foreign bankruptcy methods are also derived. It is concluded that it is necessary to develop a new model of assessing the probability of bankruptcy of the company on the basis of modern data, which would be easily interpreted and would have fewer shortcomings.