Insolvency (Bankruptcy) of Agricultural Organizations

The purpose of the proposed article is to analyze in detail insolvency (bankruptcy) according to the legislative acts of the Russian Federation. These concepts cannot be considered as final, which, as a consequence, makes it difficult to form both knowledge and mechanisms undergoing constant qualitative transformations. Moreover, the author examines the fundamental features of such an institution as the insolvency (bankruptcy) of legal entities, describes its significance for the economic component of the state, explains the full concept and its features, including the procedure for recognizing a legal entity as bankrupt, leading to the effective use of this legal instrument to settle debts in favor of the parties to the litigation. Taking into account the fact that in modern realities, insolvency is an inevitable condition and factor in the development of market relations resulting in a more detailed and comprehensive study of the protection of the rights of agricultural organizations at the legislative level. In view of the lack of stable economic turnover, the epidemiological situation that directly affects business development, sanctions imposed by foreign countries, numerous closures of sales markets — all the above can lead this type of organizational activity to insolvency and the inability to fulfill creditors› claims both on time and in full. In this regard, in the economic area appears the problem of ensuring proper regulation of relations manifested in the insolvency of legal entities and in the development of special improved measures and means that can protect the rights and interests of debtors of civil turnover in the agricultural sector.

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