Is it Easy to be Inconclusive? Procedural Aspects of the Institute of Bankruptcy of Individuals

The article examines current issues related to the procedural aspects of the institution of the bankruptcy of individuals. After the appearance of the possibility of recognizing an individual as untenable, a number of important problems emerged that prevent the bankruptcy institution from working effectively. The author has identified the main problems emerging between the participants in the bankruptcy procedure of citizens, as well as their consequences. One of the most acute problems of the institution of the bankruptcy of an individual that requires a primary decision is the working conditions of the arbitration manager (as part of the bankruptcy of a citizen - financial manager). In conclusion, it is concluded that the real situation of the debtor, creditor and manager within the bankruptcy, and the problems arising from this do not allow the insolvency institution to function effectively today. Accordingly, it is necessary to resolve the above problems as soon as possible at the legislative level.