Natalia Nosan, Doctor of Economics, Associate Professor, Associate Professor of the Management and Economic Security Department, The Bohdan Khmelnytsky National University of Cherkassy, Cherkassy, Ukraine

ORCID ID: 0000-0002-4005-8333
e-mail: natali_nosan@ukr.net

Nazarenko Sergey, Doctor of Economic Sciences, Professor, Head of the Management and Economic Security Department, The Bohdan Khmelnytsky National University of Cherkassy, Cherkassy, Ukraineм. Черкаси, Україна

ORCID ID: 0000-0003-0432-2587
e-mail: nazarr5@ukr.net

Nazarenko Tetyana, student of the State and Legal Disciplines Department, The Bohdan Khmelnytsky National University of Cherkassy, Cherkassy, Ukraine

ORCID ID: 0000-0001-5857-7791
e-mail: tanianazarenko2004@ukr.net

Economic and Legal Role of Arbitration Manager in the Process of Rehabilitation of Enterprises in Ukraine

Abstract. Introduction. An effective system of bankruptcy and liquidation of enterprises has a significant impact on the effectiveness of doing business. However, bankruptcy is a way to get rid of debt,. The main purpose is to secure creditors’ claims, but not to liquidate the company. In this context, effective implementation of remedial measures is very important for restoring the liquidity and solvency of enterprise, reducing all types of debt. One of the key figures in bankruptcy proceedings is arbitration manager.

Purpose. The purpose of the article is features of the reorganization process of enterprises in Ukraine and the economic and legal role of arbitration manager in this procedure.

Results. The role of arbitration manager in the process of rehabilitation of enterprises in Ukraine is investigated. The essence and significance of reorganization process in bankruptcy procedure are presented. The main participants of bankruptcy of enterprises are described. The role of arbitration manager in the process of rehabilitation of enterprise from the legal and economic level is described. The professional basis of activity, features of realization of powers in bankruptcy procedure and legally conditions of activity of arbitration manager are specified. The legally defined rights and responsibilities of arbitration manager in the reorganization process are presented. The specific properties characteristic of legal field of activity of arbitration manager which distinguish it from other participants of reorganization process are listed. The role of arbitration manager in the management of the process of implementation of remediation measures is described.

Conclusions. The reorganization procedure contributes to satisfaction of creditors’ claims and restoration of normal financial functioning of debtor. The legal role of arbitration manager is to establish links between the debtor, creditors and commercial court; monitoring compliance with legal requirements to restore the debtor’s solvency and satisfaction of creditors’ claims. The economic role of arbitration manager is manifested through the level of qualification in matters of financial and economic nature, which provides quick and effective solution of restoring the solvency of business entities.

Keywords: reorganization; bankruptcy; arbitration manager; solvency; debtor; creditors.

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