2.1 The history of development of the institution of insolvency (bankruptcy) in Russia

The historical roots of the institution of insolvency (bankruptcy) in Russia are deep enough. Although the word "bankruptcy" has appeared in the Russian Pravda (one of the first Russian legislative acts in force in ancient Russia in 11-12 centuries).. Legislator of that time there are two types of bankruptcy: - Unhappy (innocent), the failure that occurred in the event of various kinds of circumstances: fire, natural disaster; - A malicious (fault) failure, which could occur in the case of frivolous behaviour of the merchant (embezzlement of funds entrusted to the loss of the goods).⁸

At the same time and both are types of commercial insolvency. The approach to insolvency marked in the Russian Pravda, preserved in the later Russian legislation. For example, in 1729 the statute of promissory notes. The concept of failure associated with the procedure of acceptance promissory notes. Following the adoption of the charter promissory notes going development of the institution of insolvency by the appearance of cases. An important milestone in the development of the institution of insolvency in the adoption of December 19, 1800 Bankruptcy statute. It was the first attempt at a comprehensive insolvency by adopting a single codified act.

Under the insolvency is understood the property status of the person (natural or legal) in which the latter is unable to meet the demands of their creditors. It was a consequence of, or clear failure of the property, or a confluence of circumstances, a temporary disorder cases, which give reason to believe the debtor has insufficient funds and the impossibility of a full payback with creditors. In contrast to the Russian Pravda Bankruptcy statute identifies three types of failure: - Failure of the unhappy, which can be recognized only if there are unforeseen circumstances, does not depend on the actions of the debtor (fire, flood); - Reckless, who came from the guilt of the debtor; - Malignant, otherwise, malicious bankruptcy.

New in the bankruptcy law was the introduction of measures to ensure action against the alleged bankrupt. These measures have been applied both in relation to the identity of the debtor and with respect to its property (the arrest of the debtor's property, which is expressed not only in the sealing property of the debtor, but also the documentation related to his activities).

In 1832  adopted a new Statute of insolvency. He established a complex system of delivery and discharges of debts, which had a privileged position of the church and monasteries. One of the most effective ways to satisfy the interests of creditors has been the allocation of the total number of creditors, the so-called the curators who led the work of the General Meeting, as well as performing some functions to manage the debtor's property. For the curators was fixed to be recognized as invalid transactions of the debtor and non-execution of the current contracts.

Further evolution of bankruptcy law is characterized by the publication of a series of decrees of the Senate. Thus, the decree of the Senate of 1806  prohibits the choice of curators from unauthorized persons, ie which are not creditors of the debtor. Decree of the Senate in 1809 was fixed the position according to which bankruptcy proceedings are stopped if the debtor has a creditor but the creditor's claim in this case are satisfied in the manner prescribed by the decree. In 1846 effect of rules on insolvency of trading was extended to the nobility.

Clearly identified criteria for differentiation of commercial and non-commercial in solvency arising from the grounds of their origin. The decision of the Senate of1899 it was stated that failure to recognize of trading requires that at least one came from a trade debt. The origin of the debt of the debtor's trade meant the implementation of entrepreneurial activity. The next stage in the development of the institution of insolvency (bankruptcy) was adopted in 1922. Civil Code of the RSFSR in 1923 - Code of Civil Procedure

Since 1930 Russia in legal relations connected with the insolvency of enterprises, almost not regulated. Official doctrine did not recognize the institution of bankruptcy, because a planned socialist economy, there is no place of insolvency. In the early 1960s. rules on bankruptcy in general were excluded from the legislation of the USSR. The legislation of the Russian Federation, the bankruptcy law was enshrined in1992 in the Law of the Russian Federation of November 19, 1992 № 3929-1 «On insolvency (bankruptcy) of enterprises."

Thus, the main reasons for the need to reform bankruptcy laws was the lack of experience of its use and inappropriate practice of borrowing from other, more developed economically and politically in countries excluding the Russian reality. As a result, created the Russian legal system insolvency. The Federal Law of 8 January 1998. Number 6-FZ "On Insolvency (Bankruptcy)" has been largely directed at protecting the interests of creditors. As a result, it is a means of economic recovery has become a source of conflict has led to the ruin of many solvent companies. Often, lenders were not interested in the implementation of measures for financial recovery of companies in bankruptcy and their mastery of their property. These and many other circumstances have necessitated the development and adoption of the new Federal Law "On Insolvency (Bankruptcy)" of 2002.⁹