Bancruptcy of natural person by the legislation of Ukraine and Poland

Abstract

The article examines the legal basis for applying for bankruptcy proceedings against natural persons under the laws of Ukraine and Poland. The analysis gives grounds to assert that in both Ukrainian and Polish legislation regulating the bankruptcy procedure of individuals (consumer bankruptcy), the legislator on the one hand removed the debt burden from the debtor, which is insolvent, by reducing or partial or full repayment of debts, and on the other - protected the creditor by installments and/or deferral of debt repayment by the debtor. Examining the legislation of Ukraine and Poland on bankruptcy of natural persons, it can be argued that in general there are similarities in the legislative regulation of this institution, although we can probably see some differences in the regulation of these legal relations. In particular, both the Ukrainian and Polish legislators have given the right to apply to the court to initiate insolvency proceedings only against the debtor, and it is the court that decides whether or not to open insolvency proceedings against an individual. Differences can be traced in the decision to open insolvency proceedings against an individual, so the Ukrainian judge is guided by the grounds determined by the legislator and the existence of which is the basis for opening such proceedings, while the Polish legislator indicates the circumstances that are grounds for refusing to initiate proceedings. case of insolvency of an individual. The Ukrainian legislator introduced a procedure for restoring the debtor's solvency by debt restructuring and outlined the procedure for declaring the debtor bankrupt and introducing a procedure for repaying his debts, the decision on which of these procedures to apply belongs to creditors. In Polish law, it is actually a matter of declaring a natural person-debtor as bankrupt and approving a plan to repay creditors' claims, an agreement between the bankrupt and creditors may take place, but this takes place during the debtor's debt repayment procedure, in particular, their dwelling.