Encyclopedia

Citizens' insolvency


Insolvency of a citizen is his inability to satisfy the claims of creditors in full in respect of monetary obligations and (or) to perform the obligation to pay mandatory payments1.

  1. Federal Law No. 154-FZ dated 29.06.2015 "On the Regulation of Specific Features of Insolvency (Bankruptcy) on the Territory of the Republic of Crimea and the City of Federal Importance Sevastopol, and on Amendments to Certain Legislative Acts of the Russian Federation". 2015, as amended on 30.07.2017, Article 6, paragraph 3#6. ↩

Laws with commentary

Codes and federal laws