Status of secured creditors in a bankruptcy: commercial, legal and procedural aspects

The author analyzes recent changes bankruptcy legislation concerning the legal status of creditors for the obligations secured by pledge of the debtors property, as well as the latest jurisprudence. It is noted in particular that the law established a new production in the arbitral process in cases of insolvency (bankruptcy), whose purpose - protecting the rights of the creditor-mortgagee. It is concluded that the current version of paragraph 4 of paragraph 1 of Article 12 of the Federal Law of October 26, 2002 № 127 «On Insolvency (Bankruptcy)» needs to be adjusted.