The problem of the choice of applicable law in cross-borderinsolvency (bankruptcy) cases: system of law enforcement
The article examines the theoretical and practical aspects of the choice of applicable law in cross-borderbankruptcy. The article analyzes the latest practice of the Supreme Court of the RF, arbitration courts that arisewhen considering bankruptcy cases involving a foreign element. The problems of modern law enforcement areidentified, possible solutions are proposed. The authors emphasize that the most reasonable in the matter ofchoosing the applicable law in cross-border bankruptcy cases is to establish a clear hierarchy of criteria bywhich the choice of applicable law is determined. In conclusion, it is noted that the institution of cross-borderbankruptcy, from the point of view of the choice of applicable law, is one of the most complex institutions ofprivate international law. One of the possible ways of settling the issues of the choice of applicable law is thelegislative consolidation of the algorithm for choosing the applicable law. Based on modern law enforcementpractice, in the opinion of the authors, the hierarchy should take into account the center of the main interests ofthe debtor, the place where the bankruptcy case was initiated and the place of registration of the debtor.