Abstract
The article is concerned with defining the boundaries of the terms "insolvency" and "bankruptcy". The author analyzed the correlation of terms, also including the history of Russian legislation, on the basis of which the features of the change in this institution to date are noted. The modern approach of the legislator to the definition of "insolvency" and "bankruptcy" seems to the author not fully justified, which includes the application of the category "bankruptcy" in Russian criminal law. Taking into account examples of foreign practice, it is proposed to legally distinguish between the categories.
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