Foreign assets in bankruptcy procedure

The article examines the problem of insolvency (bankruptcy) of a debtor who does not fulfill its obligations, analyzes the current legislation of the Russian Federation on insolvency (bankruptcy), reveals the significance of the main categories in this area. The concept of insolvency is formulated. The distinctive features of the institution of bankruptcy of individuals in Russia, the main advantages of innovations for borrowers and creditors are determined. Difficulties with determining the composition, value and location of the debtor's foreign assets are identified and ways to solve this problem are noted. The institution of bankruptcy is considered as an integral feature of a market economy. The relationship of bankruptcy with the institutions of a market economy has been established.