On the importance of determining the moment of the onset of objective bankruptcy in order to bring the controlling debtor to subsidiary responsibility

This article examines the issues of determining the moment of objective bankruptcy. The subject of the research is the issues of objective bankruptcy and the ways of considering bankruptcy cases, with the focus on determining the moment of its occurrence. As part of the subject of this article, an end-to-end analysis of regulatory, legal sources and research literature data is carried out. The research focuses on the issues of objective bankruptcy, which is an urgent problem of law enforcement and legal practice. Bankruptcy today is a relevant and significant legal and economic practice. At the same time, the problems of its objective definition and fixation of the moment of onset seem to have been studied only superficially. The study of the subject of this article will allow for a more reasoned statement about the possibilities and prospects for resolving bankruptcy cases. The research methods include formal legal analysis and a comparative legal approach, which allows a comparative perspective to evaluate approaches to the fact of objective bankruptcy, presented both in the initiative of the legislator and in academic discussion. The scientific novelty and relevance of this article may be primarily related to the fact that bankruptcy cases are becoming more frequent, bankruptcy cases are being conducted by courts, and the social necessity of this economic and legal institution. In addition, the scientific novelty of the article is constructed in the field of modern problems of civil law related to the resolution of economic disputes. The key conclusions reached by the author of this article are as follows. Firstly, the importance of determining the moment of the onset of objective bankruptcy is associated with the very content and essence of bankruptcy as an instrument of legal regulation of civil and economic relations. Secondly, it clarifies that this moment, which is located in time space, depending on the occurrence of a real situation of excess of the amount of debt over the actual state of the debtor's assets, can be determined in different directions, but must be taken into account in the process of establishing the fact of bankruptcy.

bankruptcy, civil law, legal relations, objective bankruptcy, economic insolvency, economical law, debtor's assets, creditor rights, debtor's rights, economical interests