INSOLVENCY OF EMPLOYER: CONCEPT, DELIMITATION FROM RELATED CATEGORIES IN THE CONTEXT OF PROTECTING THE RIGHTS OF WORKERS

Abstract

the article designates the terminological problem of distinction of the issues, used for the description of financial tensions in the activities of economic entities. On the base of the analyses of different legal norms it is stated that the source of such terminological intermixture are laid by the legislator itself. However, using of the variable terms as synonymous is inappropriate both from the point of legal technique and the practical use of such issues. Based on the analysis of economic literature, Russian legislation and the ILO Convention № 173 provisions related concept were studied to identify the differences between them. The author comes to conclusion of the necessity of the setting as quickly as possible the first symptoms of the employer's insolvency before the introduction of bankruptcy proceedings. Such approach to the problem will provide the using of protective mechanisms to the employees outside the framework of the uttermost crisis situation – the employer's bankruptcy.