The order of property realisation in bankruptcy (insolvency) procedure under the law of Ukraine and Germany
Comparative legal study of the specifics of the order of debtor's property realisation in the bankruptcy procedure under the law of Ukraine and Germany through the application of hermeneutic. Legal provisions governing the sale of the debtor's property.
| Рубрика | Государство и право |
| Вид | статья |
| Язык | английский |
| Дата добавления | 29.06.2022 |
| Размер файла | 73,7 K |
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8. It is proposed to increase the guarantee fees of auction participants to 50%, as well as in case of their illegal behavior to apply restrictions to such participants in the right to further participation in the repeated auction.
9. Legislation on the application of the second repeated auction should be removed, as its existence only facilitates the sale of property for a pittance.
10. It is stated that bidding cannot be considered public if there is only one participant, and therefore it is necessary to recognise the mandatory participation of at least two buyers.
11. It is noted about the urgency of providing in the Bankruptcy Code an exhaustive list of conditions under which the transaction made at the auction for the sale of the debtor's property in bankruptcy proceedings may be declared invalid. Furthermore, it will also be appropriate to indicate the list of subjects of appeal and set a one-month non-renewable period for appealing its results in order to ensure the transiency of the bankruptcy procedure, compliance with the deadlines for liquidation, and protect the rights of future bona fide owners of the property, which was sold at auction.
12. It is argued that p. 3 of Art. 85 of the Bankruptcy Code on deferral of payment by the buyer of the due second part for the goods must be removed in connection with the existence of a legal prohibition in establishing deferrals at the contractual level (p. 3 of Article 63 of the Bankruptcy Code).
REFERENCES
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2. Law of Ukraine No. 2343-XII “On Reestablishing Debtor Solvency or Declaring Bankruptcy”. (1992, May). Retrieved from https://zakon.rada.gov.ua/laws/show/2597-19.
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21. Resolution of the Cabinet of Ministers of Ukraine No. 865 “Issues of Functioning of the Electronic Trading System for the Sale of Debtors' Property in Bankruptcy Cases (Insolvency)”. (2019, October). Retrieved from ttps://zakon.rada.gov.ua/laws/show/865-2019-n#Text.
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23. Resolution of the Cabinet of Ministers of Ukraine No. 432 “On Approval of the Procedure for conducting electronic auctions for the sale of small privatization objects and the definition of additional conditions of sale”. (2018, May). Retrieved from https://zakon.rada.gov.ua/laws/show/432-2018-ntfText.
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