Open AccessLEGAL REGULATION OF CROSS-BORDER BANKRUPTCY OF LEGAL ENTITIES
Author(s) -
Азамат Эргашев,
Uzbekistan Tashkent. Lecturer at Tsul
Publication year - 2021
Publication title -
international journal of advanced research
Language(s) - English
Resource type - Journals
ISSN - 2320-5407
DOI - 10.21474/ijar01/13688
Subject(s) - bankruptcy , harmonization , enforcement , insolvency , conflict of laws , order (exchange) , law and economics , political science , globalization , private law , law , unification , business , comparative law , economics , finance , computer science , physics , acoustics , programming language
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.