| Abstrakt: |
The article is devoted to a comparative legal analysis of the UNCITRAL Model Law on Cross-Border Insolvency of 1997 (the Model Law) with EU Council Regulation No. 1346/2000 of 29 May 2000 on insolvency proceedings (the EU Regulation 2000) and EU Regulation 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (the 2015 EU Regulation) as the fundamental international instruments of cross-border insolvency procedure regulation in order to identify their common and distinctive features, as well as the impact of such differences on law enforcement practice. The relevance of this study for Ukraine is due to the fact that Chapter 8 of the Bankruptcy Code of Ukraine, devoted to the cross-border bankruptcy, and is quite similar to the Model Law, and taking into account the fact that our State has acquired the status of a candidate for accession to the European Union, which is not far off the time when the provisions of the EU Regulation 2015 will also apply to Ukraine. Based on the results of the research, the author comes to the conclusion that EU Regulations 2000 and 2015 are endowed with mechanisms for regulating the cross-border insolvency procedure, which in their turn are different from the Model Law, which can logically be explained by the difference in the legal nature of the mentioned acts. It is undoubtedly that the provisions of the EU Regulation 2015 are the most progressive from all the mentioned normative acts, which is logically explained by their modernity. However, if we talk about the EU Regulation 2000, it is not so outdated compared to its successor. The difference between the Model Law and the EU Regulation 2000 is much greater than the difference between the EU Regulation 2000 and the EU Regulation 2015, where the provisions of the successor are not particularly revolutionary in comparison with the provisions of the predecessor, but vice versa, those provisions rather supplement the provisions of the latter. All this points to the revolutionary nature of the EU Regulation 2000 and, by and large, leads to the conclusion that the EU Regulation 2015 should not be considered as a completely new product, but somewhat as an improvement or update of the EU Regulation 2000. [ABSTRACT FROM AUTHOR] |
