Reorganization Through Inclusion as a Way to Prevent Bankruptcy of a Tour Operator in Agreement with Another Tourism Organization

Abstract

The purpose of the article is the theoretical study and research into the methodology of applying mechanisms of tour operator reorganization in the form of accession as one of the means of preventing its bankruptcy. A task of the article is the legal analysis of the current legislation governing the public relations on reorganization of legal entities in the form of accession, and also the introduction of practices for the prevention of bankruptcy of tour operators for the purpose of stabilizing their business activity. During the analysis comparison of the studied data from various sources was carried out. The horizontal and comparative analysis has allowed to specify the legal contents of the studied terms. The author, by analogy with credit institutions, has offered a mechanism of legal regulation of reorganization by the form of accession with features characteristic for tour operators. The author has defi ned the requirements for the financial conditions of the attaching tourist organization by putting forth a formula for calculating an indicator of a tour operator’s financial solvency. The intermediate conclusion is drawn that reorganization should be considered not as succession but as a deal during which there is a transition of the rights and duties of reorganized party/parties and the legal entity/entities. The author has drawn a conclusion that reorganization by the form of accession is an eff ective way of prevention the tour operator’s bankruptcy, but at the same time, this way has to be applied only in case of the unsatisfactory result of carrying out other actions for the restoration of tour operator solvency. Refs 8.