Legal entities in the state of creation and termination as insolvency subjects under German and Russian law

Abstract

This article analyzes the problems of giving competition ability to the preliminary legal entities, to the property of the legal entities in the state of their liquidation, as well as problems of the isolated property of insolvent legal entities. Comparative method was used to study a group of insolvency subjects in the state of creation and termination of legal entities. German legal doctrine and precedents were examined to define competition ability of the debtor as a prerequisite for the enactment of insolvency proceedings and to discern legal nature of legal entities in the state of their creation, types and legal nature of preliminary legal entities as subjects of civil and trade law, and isolated property of insolvent legal entities during their liquidation and insolvency. Conclusions were reached about the liability of insolvent legal entities, preliminary legal entities and legal entities in the state of liquidation. Conclusions were also made on the subject of competitive ability of preliminary legal entities and isolated property during the insolvency proceedings. Russian legislation was analyzed on the topic of the creation of legal entities, stages of their creation and the legal nature of the founder’s agreement. Conclusions were made on the topic of liability of the legal entity in the state of its creation and the possibility of using a legal construct of liability by means of including the general partnership in the list of subjects that can be considered insolvent in order to protect creditor’s rights during creation, termination and insolvency of legal entities.