Gur'ev A.V.Russian Presidential Academy of National Economy and Public Administration, Volgograd Branch, Volgograd, Russian Federation tolya_gurev@mail.ru
Importance The article reviews the legal institution of preventing tourism companies’ bankruptcy and possibilities of setting up legal mechanisms for preventing bankruptcy and recovery of tourism companies’ solvency. Objectives The author provides a narrow and broad interpretation of the term bankruptcy prevention. The author also scrutinizes Article 30 and 31 of Federal Law On Insolvency (Bankruptcy) of October 26, 2002 ¹ 127-FZ, thereby identifying the structure of the legal concept bankruptcy prevention. The article describes the analysis of Federal Law On Joint Stock Companies of December 26, 1995 ¹ 208-FZ, and Federal Law On Limited Liability Companies of February 08, 1998 ¹ 14-FZ, which the researcher performs to review measures tourism companies’ shareholders (members) undertake in order to prevent bankruptcy of their tourism companies, including rights and obligations of legal entities and their shareholders (members) in case of any insolvency indicators. The author formulates the definition of a tourism company’s solvency, relying on the regulatory definition of solvency set forth in Regulation of the Bank of Russia On Rules and Criteria for Evaluating Financial Position of Legal Entities: Shareholders (Members) of Credit Institutions of March 19, 2003 ¹ 218-Ï. Methods The analysis includes the comparison of data under study from various sources. The horizontal comparative analysis allows specifying the legal substance of the terms in question. Results The author reviews stances of some representatives of economic science concerning the concepts of a tourism company’s bankruptcy prevention and recovery of a tourism company’s solvency and analyses, in particular, a broad and narrow approach to defining the concepts. The article presents the author’s suggestions regarding the definitions of the concepts. Conclusions and Relevance The author concludes that the legal concepts of bankruptcy prevention and recovery of solvency are closely related. However, being closely related, they have different legal substance. In this respect, the author distinguishes the concepts of bankruptcy prevention and recovery of solvency.
Keywords: tourism company, bankruptcy prevention, recovery of solvency, shareholders, members, owners, Joint Stock Company, Limited Liability Company
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