ИСТИНА

The presentation is devoted to the analysis of bankruptcy institute development in Russia. Insolvency system is one of the key factors of increasing the market economy efficiency. The objective of the research is to reveal specific features of Russian insolvency legislation and its enforcement, to identify main problems and suggest directions for its improvement and integration with global trends. The article describes the main features of current Russian Insolvency Law and its disparity with European approaches, the specific features of informal workouts in Russian insolvency system, the current initiatives to improve the insolvency institution and further directions of this system’s modernization.