SUBORDINATION DEBT IN THE CONTEXT OF CROSS-BORDER INSOLVENCY (BANKRUPTCY)
Issues connected with the borderline criteria establishment of subordinated creditors' requirements in comparison with other requirements in the matter of the bankruptcy are analyzed in the article. Certain subordination types, legal doctrines forming their theoretical basis and also the empiric experience both native and foreign law and order are studied. The practical importance of the subordination of requirements in case of the cross-border insolvency (bankruptcy) is estimated. Based on the analysis the conclusion is made that the Russian legal system does not reasonably regulate issues related to the subordination when setting up proceedings on the case of the insolvency (bankruptcy). In addition to that, the improvement of the effectiveness of legal regulation of relations arising from the insolvency (bankruptcy) of the debtor can only be achieved through an integrated approach that involves both distinguishing between the requirements of external and internal creditors and the possibility of alternative ways of financing the debtor's activities, including the implementation of rehabilitation procedures.