LEGAL REGULATION OF CROSS-BORDER BANKRUPTCY OF LEGAL ENTITIES

The last decade has been marked by the rapid development of International private law within the framework of globalization and unification of norms. Therefore, in the international community, the issue of interethnic application and harmonization of rules and norms for individual emerging legal relations becomes acute. This article examines the issue of legal regulation of cross-border bankruptcy of legal entities. In particular, the author provides a number of statistics and analytical data from a number of countries (developed and developing) in order to substantiate the point of view on this issue.Moreover, the author examines foreign law enforcement practice and the legal framework on bankruptcy and insolvency of legal entities. Considering the bankruptcy procedure, the author comes to the conclusion that this issue has not been sufficiently studied both from a theoretical point of view and from a practical one. Within the framework of this study, sufficient arguments are made to accelerate the resolution of conflicts in International private law. As a result, the author gives some conclusions and suggestions applicable both in the Republic of Uzbekistan and in other states.