Institution of insolvency (bankruptcy) and the constitutional principle of solidarity

Abstract

The common interest acts as a basis for cooperation, sufficient to set aside differences and find a compromise. However, solidarity also manifests itself in a situation when interests are competing or even conflicting (opposite), as, for example, in the institution of insolvency (bankruptcy), which is considered in this article as legal means of implementing of constitutional principles of economic and social solidarity, which were enshrined in Article 75.1 as a result of amendments to the Constitution of the Russian Federation in 2020. The analysis of legal regulation of the institute of insolvency (bankruptcy) as one of the central institutions of market economy and business law, which is based on the idea of balance between private and public interests, led the author to the conclusion that the principle of solidarity manifested itself in domestic law long before it was enshrined in the Basic law. The article pays attention to the correlation of the principle of solidarity with the principles of good faith, reasonableness, proportionality and fairness, the realization of which in combination allows to find the necessary consensus in the triad of interaction between the state-society-business in insolvency (bankruptcy) relations.

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