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The protection of workers' rights in bankruptcy proceedings is a matter of supreme importance in every country. Comparing national laws, one could conclude that the predominant solution is to grant workers the position of privileged creditors. In Serbia, workers are protected by means of two laws: the Labour Law, which is the lex generalis for this area, and the Bankruptcy Law, which has the role of lex specialis. In addition to protection during bankruptcy proceedings before commercial courts, workers can appeal to the state's national guarantee institution, namely, the Solidarity Fund. Serbia is, therefore, among the countries which employ a mixed - protectionist system. By analysing the legal solutions related to these issues, the authors want to determine the correlation between national legal solutions and those at the European Union level, and to consider the problems in bringing these claims in legal practice. They have also reviewed the current legislation in some Western Balkans countries including Croatia as a member of the EU, and Bosnia and Herzegovina, which has candidate status akin to Serbia. The authors conclude that Serbian law has a modern, hybrid approach in securing the rights of workers in bankruptcy proceedings, but that there is room for improving regulations in this area. This could be achieved by, inter alia, increasing the volume of claims guaranteed to workers, restricting the reasons for initiating bankruptcy proceedings, making preliminary payments to workers in the initial stages of the proceedings, and keeping court records on the percentage of workers' claims being realised in bankruptcy proceedings. [ABSTRACT FROM AUTHOR]

Integration processes have aroused great interest not only in the legislation of European countries, the provisions of which regulate the relationship of bankruptcy, insolvency, contest, to study the agreed development in the legal regulation of these relations but also in sources of law that existed in the past and were devoted to these issues. The common trade and economic roots and business customs, on the basis of which the European bankruptcy law was born and received its further development, contribute to this interest. Ukraine's desire to become a full member of the European Community, the processes of European integration determine not only the development of new regulations, but also the improvement of existing ones that better meet today's requirements. National Bankruptcy Law and the Code of Bankruptcy Procedures of Ukraine as the main external form of its legal and official existence is a component of European legal culture, as evidenced by the current state of European law, the provisions of which regulate those relations, which we have called bankruptcy. A study of the provisions of foreign legislation on bankruptcy, insolvency, contest law allows us to conclude that the trends in the legal regulation of insolvency, which began to become apparent and became especially evident in the last century, should certainly emphasize the shift in emphasis in regulating these relations in the direction of establishing legal preconditions for creating the most favorable conditions for the debtor in order to restore its solvency and settle its debts, which to some extent now occurs in almost all countries, especially in developed economies. However, when referring to the provisions of domestic bankruptcy law, it turns out that without comprehensive legal regulation will remain an important institution of bankruptcy - it is a settlement agreement, which for twenty years was regulated by bankruptcy law. Several domestic scholars, in particular O. Biryukov, A. Butyrsky, I. Vechirko, V. The purpose of the article is: to identify the grounds, problems, and consequences of the refusal of the Ukrainian legislator from such bankruptcy proceedings as settlement agreement; to formulate proposals for improving the legislation of Ukraine on bankruptcy in terms of the problems under investigation. It is established that with the adoption of the Code of Ukraine on Bankruptcy Procedures, the legal regulation of relations related to the insolvency of competitive entities that have the status of a legal entity has undergone significant changes. In this regard, the answer to the question of whether the rules of bankruptcy law contain enough provisions that can help solve the problem that arises in connection with and due to the insolvency of such debtors. The author concludes that: the global trends of this time in the regulation of bankruptcy, insolvency, contest are those related to the introduction of this legislation multivariate options to prevent bankruptcy (insolvency) of the debtor; has extensive European experience in the legal regulation of the settlement agreement in the historical past and present; the lack of normalization of the national law of the settlement agreement will contribute to the deterioration of the legal position of the debtor, violation of one of the main tasks of regulation of these relations - ensuring the balance of interests of participants in bankruptcy. [ABSTRACT FROM AUTHOR]

A stable insurance market is a necessary prerequisite for sustainable economic development of Ukraine, increasing its investment attractiveness, one of the most important components of financial security, without which it is impossible to ensure the development of any country, safe operation of economic entities, ensuring various areas of their lives. In Ukraine, as in many countries around the world, insurance companies are quite powerful participants in the financial services market, which play a key role in implementing economic and social policies, in accelerating economic transformation. However, we should not ignore the fact that insurance activities are highly risky and there is always a danger, especially during the global financial crisis, due to the bankruptcy of one insurance company to cause a chain reaction of bankruptcies of other insurers (reinsurers, insurance intermediaries) up to systemic crisis in the financial services market as a whole. Based on this understanding, in many countries of the world the legal regulation of insolvency of insurers, which are subject to bankruptcy proceedings (insolvency), the competition aims to prevent these negative consequences and preserve the assets of insurance companies. To some extent, this trend is traced in the bankruptcy legislation in Ukraine. The purpose of the article is: to identify the specifics of bankruptcy proceedings, where the debtor (bankrupt) is the insurer; analyze the features of bankruptcy proceedings that may be applied to the insurer; to formulate proposals for improving the legislation of Ukraine on bankruptcy in terms of the studied problems. It is established that with the adoption of the Bankruptcy Code of Ukraine, the legal regulation of insolvency relations and bankruptcy of the insurer has not undergone significant changes. In this regard, it is important to answer the question of whether the latest bankruptcy law contains enough provisions that can help solve the problem that arises in connection with and due to the insolvency of such debtors. The authors conclude that: the uniqueness of bankruptcy cases of insurers is due to the fact that they are "burdened" by the specifics of the legal status of the subject of such procedures; Bankruptcy legislation provides for the possibility of applying to insurers procedures for restoring solvency; the specific legal consequences of opening liquidation proceedings and declaring the debtor-insurer bankrupt include termination of all insurance contracts, sale of a single property complex; а characteristic feature of bankruptcy laws (insolvency), bankruptcy laws of different countries is that they are based on different approaches to the legal regulation of the procedural relations of bankruptcy of insurers. [ABSTRACT FROM AUTHOR]

The revival of interest in theoretical research of such legal phenomena as bankruptcy and competitive process in particular, in independent Ukraine, is associated with the enactment of the first national legislative act, which was devoted to the regulation of material and procedural relations of bankruptcy. In fact, legal science since the late 90-s of the last century, being placed in qualitatively different conditions compared to previous ones. It paid considerable attention to rethinking the conceptual foundations of bankruptcy law, which began to be actively and consistently developed in the scientific literature, including such current issues: improvement and codification of bankruptcy legislation; optimization of the conceptual and categorical apparatus of bankruptcy; state policy in the field of bankruptcy; determining the legal nature of bankruptcy relations; specifics of the legal status of the parties and other participants in the bankruptcy relationship; procedural principles and features of bankruptcy proceedings; definition and content of bankruptcy proceedings and others. The purpose of the article is: to highlight the influence of the achievements of the dogma of national bankruptcy law and its component - the dogma of the competitive process on the improvement of the latest Ukrainian bankruptcy legislation and its application practices. It is found that the practical significance of the doctrinal provisions of the competitive process lies in their implementation in law-making and law-enforcement activities. The author concludes that the legislator in improving the legal regulation of bankruptcy should take into account the results of doctrinal research in this area, which aimed at solving global problems of restoring the solvency of businesses and settling the debt obligations of citizens. [ABSTRACT FROM AUTHOR]

The development of legal regulation of bankruptcy relations is influenced, as a rule, not only by political but also primarily socio-economic factors. Therefore, there is always relevance in the problem ensuing from the issue of the extent to which the national bankruptcy system is consistent with the level of our country's socio-economic development which is currently characterized by an extended period of transition to welldeveloped market relations. Such internal circumstances create a favorable environment for redistribution of property and mass bankruptcies. At the same time, there is an infringement of interests not only of specific participants to bankruptcy relations, but also the interests of the State as a market regulator. The balance of interests of the parties and participants to bankruptcy relations for the sake of their efficient and optimal legal regulation is the main goal sought by legislators of all modern countries worldwide. The purpose of this article is to study the provisions of the most recent bankruptcy legislation, the content of which will allow determining the system of bankruptcy which it refers to and, therefore, allow ascertaining the reliability of legal protection of the main actors to the relations of bankruptcy; the article also presents a statement of the author's vision regarding the areas where relevant provisions of national bankruptcy legislation may be improved and thus a contribution can be made to overcoming the issues which may arise when such provisions are implemented in practice. It is established that upon adoption of the most recent bankruptcy legislation, legal regulation of relations involving debtor's insolvency and bankruptcy have entered a new phase of their development. In this regard, a response is needed to the question: what is the targeted focus of the most recent bankruptcy legislation of Ukraine; do its rules contain enough provisions which can be conductive to resolution of the issues arising from redistribution of rights of the parties and participants to relations of bankruptcy? Redistribution of rights of the parties and participants to relations of bankruptcy, the degree of protection of their interests, and a balanced distribution of losses between them -- these are the most important issues in the system of national legal regulation of relations involving insolvency and bankruptcy. That is why these issues require further research. The author comes to the conclusion that the processes underway in the socio-economic environment of the leading countries of the world cause a change in the provisions governing the relations of debtor's insolvency and its bankruptcy (insolvency). Currently, protection of creditors' rights, although being the main objective of regulation of the mentioned relations, is not the only one, since the purpose of the provisions of bankruptcy (insolvency) legislation is to ensure a balanced protection of interests of the parties and participants to these relations: debtor's employees, investors, debtor's founders (members) and others, and also to facilitate the conservation of sustainability of the national economy. [ABSTRACT FROM AUTHOR]

The present article, through the method of deductive approach and, as auxiliary, comparative, as well as the process of bibliographical and jurisprudential analysis, the proposals that demonstrate the American theory of the Defense of Low Companies, are in Increasing probability of competitions, normally reprehensible or subject to restrictions, by competition law, because of the social function of the company. The horizontal merger guidelines of the United States of America are not based on the United States Horizontal Fusion Guidelines. [ABSTRACT FROM AUTHOR]

In 1516 and 1518, the Antwerp City Council introduced a collective system of debt recovery, which broke with the tradition of priority for the first seizing claimant. This view resulted in a legal framework, which was based on the concept of publicly known insolvency. Because of the vague legal definitions in the 1582 and 1608 customary law compilations, the position of pursuing creditors was strengthened. Although these rules weren't successful, they demonstrate an early intention to draw the line between criminal bankruptcy, persisting insolvency and temporary payment problems. [ABSTRACT FROM AUTHOR]