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BANKRUPTCY AS AN ENTERPRISE ANTI-CRISIS MANAGEMENT MECHANISM

Автор: Sveta on .

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Moskvin B. Bankrutstvo jak mehanizm antykryzovogo upravlinnja pidpryjemstvom. Visnyk Kyi'vs'kogo nacional'nogo torgovel'no-ekonomichnogo universytetu. 2020. № 2. S. 58-68.

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DOI:  http://doi.org/10.31617/visnik.knute.2020(130)05

UDC 005.336.3
 
MOSKVIN Borys,
Ph. D. in Economics, President
"Councilon theprotectionof enterprises from corporate takeovers",
24a Mykhailivska str., app 12, Kyiv,


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ORCIDhttps://orcid.org/0000-0003-3504-6677

BANKRUPTCY AS AN ENTERPRISE ANTI-CRISIS MANAGEMENT MECHANISM

Background. In the current conditions of market instability and the likelihood of a new stage of the global financial crisis, there is a high probability that not all businesses will be able to withstand the crisis events and overcome their effects. Taking account of the fact that many businesses have lack of the resources to deal with the systemic crisis, bankruptcy is one of the possible ways out of this situation.
Theaim of the article is to investigate the concept of bankruptcy as a mechanism for anti-crisis management of an enterprise.
Materials and methods. The methods of generalization, comparative analysis, ana­lysis and synthesis, which made it possible to analyze the concept of bankruptcy and to inves­tigate its effectiveness as a mechanism for crisis management of the enterprise, have been used in the article. The works of domestic and foreign scientists, the Bankruptcy Code of Ukraine, statistical materials and online sources are the information base of the research.
Results. The main approaches to the interpretation of the concept of "bankruptcy of an enterprise" have been determined. The statistical data on the number of bankruptcies of enter­prises in Ukraine and other countries of the world have been analyzed. The study of world practice using the bankruptcy procedure as anti-crisis management mechanism has been carried out. The brief description of the sequence of anti-crisis measures aimed at over­co­ming the systemic crisis in the enterprise and preventing its liquidation due to the inability to restore its solvency has been given.
Conclusion. Having studied the world practice of using bankruptcy procedures to reorganize debt and taking into account the fact that bankruptcy is also applied in the Ukrainian practice of anti-crisis management, it can be argued that bankruptcy is a mecha­nism for anti-crisis management, which should not be neglected in the extreme case, when all other anti-crisis measures have not helped, but should not be abused, violating the rights of interested parties in solvency of the enterprise and the current legislation of Ukraine.
Keywords: bankruptcy, anti-crisis management, systemic crisis, anti-crisis measu­res, insolvency of the enterprise, rehabilitation of the enterpise, liquidation of the enterprise.

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