Kochetkov E.P.Financial University under Government of Russian Federation, Moscow, Russian Federation kochetkove@mail.ru ORCID id: not available
Subject The article considers the essence of the corporate recovery concept, defines legal and economic criteria of solvency restoration, formulates a methodology for substantiating the possibilities to recover debtor's solvency. Objectives The aim is to conduct an integrated study of the essence of corporate recovery from economic and legal viewpoints based on the practice of the institution of bankruptcy in Russia and abroad. Methods I employ various methods of scientific research, like logical (deduction, induction), empirical (comparison), and analytical methods. The study rests on the systems approach. Results The paper defines the substance of debtor's solvency recovery, gives scientific credence to legal and economic criteria of corporate recovery. I perform the comparative analysis of existing approaches to substantiating the possibility of solvency restoration, and reveal forms of corporate recovery. Conclusions and Relevance The legal criteria for corporate solvency recovery should be supplemented by economic criteria that ensure the survival of business in strategic perspective. The unveiled forms of solvency recovery enabled to define the most effective form, which takes into account the interests of creditors and the entire society. Therefore, it is necessary to introduce the said form in the legislation.
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