On the subject of criminal bankruptcy

The institute of bankruptcy in Russia is dynamically developing and the legislation regulating it is constantly being improved. However, with a significant annual increase in the number of bankruptcy procedures conducted, the number of recorded crimes (criminal bankruptcies) remains negligible. This is mainly due to the blanket nature of dispositions of the relevant legal norms. The present article provides a system analysis of some aspects of the completeness of protection of legal rights and interests of creditors in case of liquidation of a legal entity in terms of civil and criminal legislation. The author assesses the sufficiency of the penal prohibition and the applicability of the norms on criminal bankruptcy depending on the types of legal entity liquidation (voluntary and forced). He concludes about the gaps in this criminal law and proposes changes aimed at improving the legal protection of relations in the field of bankruptcy of the debtor-legal entity.

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