Insolvency (Bankruptcy) of a Real Estate Developer: Definition Criteria and Attributes

Abstract

The essence of criteria for establishing the insolvency (bankruptcy) of organization-developer is revealed. Based on the analysis of the general mandatory signs of insolvency (bankruptcy) of debtors, the need for their presence in the event of insolvency (bankruptcy) of organization-developer is determined, special signs of insolvency (bankruptcy) of organization-developer are identified. The conclusion is substantiated, that in case of bankruptcy of organization-developer it`s advisable to be guided not by the criterion of insolvency, which was elected by the legislator as the main, but by the criterion of non-payment.