Bohatyr V. Liquidation Procedure as a Separate Judicial Procedure in Bankruptcy Cases

The dissertation is an independent completed scientific work that deals with the study of legal relations between all participants in the liquidation procedure as a separate judicial procedure in bankruptcy cases. Еxamines periodization and identifies seven main historical and legal periods of formation, functioning, and genesis of the institution of bankruptcy and liquidation procedure. Section 2 “Procedure for Implementing the Liquidation Procedure in the Framework of Bankruptcy Proceedings”, among other things, suggests speeding up the start of the liquidation bankruptcy procedure. This section further developed the proposals of Ukrainian researchers to grant permission to the liquidator to claim early repayment of debts to bankrupt, as well as the introduction of compulsory liability insurance of the bankruptcy commissioner and members of the liquidation commission, which should facilitate the return of money to creditors through insurance compensation in case of erroneous decisions by the liquidator or members of the liquidation commission or their intentional illegal activities. Section 3 “Features of the Liquidation Procedure” establishes that the peculiarity of the liquidation of a professional participant in the securities market is the priority of protecting the interests of the clients, involving the National Securities and Stock Market Commission of Ukraine in bankruptcy procedures, selling part of the bankrupt’s securities through the stock exchange, and if the professional securities trader does not have a sufficient number of securities, its clients or counterparties become ordinary bankruptcy creditors.