THE DEVELOPMENT OF ARBITRATION COURTS’ FUNCTIONS IN THE IMPLEMENTATION OF BANKRUPTCY PROCEDURES IN THE RUSSIAN LEGISLATION

The author explores the development of bankruptcy procedures in the Russian legislation, as well as changing a role of commercial (arbitration) courts in the implementation of bankruptcy procedures. She comes to the conclusion that the Russian legislation has grown from the «procreditor» model of regulation to the «prodebtor» model, under which priority is given to reestablishing debtor’s solvency, not to its liquidation.