Is Mediation Possible in Bankruptcy Cases?
Doctor of Legal Sciences, Professor, Honored Lawyer of the Republic of Belarus, Head of the Department of Financial Law
and Legal Regulation of Economic Activity of the Belarusian State University, Chairman of the Public Association
«Belarusian Republican Union of Lawyers»
In the article ideas and problems of legal regulation of possibility of application of mediation in cases of economic insolvency (bankruptcy) are covered. In case of the successful implementation of mediation in the procedures specific to deal with cases of economic insolvency with sanation grandiose positive result may be prepared in the restoring the collectibility of specific debtors, and therefore the economy as a whole. Bankruptcy is characterized by high level and multi-layered conflict and divisiveness in most cases of economic insolvency. It is not only the conflict that exists a priori between the debtor and creditors, which led to the bankruptcy proceedings, but the conflict between creditors and a single queue, between creditors of different queues. The main negative consequence of such conflicts in cases of economic insolvency is losing a lot of time for their consideration, which leads in its turn to increased financial instability of the debtor, creditors’ losses, reduction of the quality of the debtor’s assets, the loss of skilled workers, and so on. In this case, it is necessary to turn to mediation, which is defined as negotiations of parties with participation of the mediator in order to resolve the dispute (disputes) of parties by generating of a mutually acceptable agreement.
Keywords: mediation; reconciliation; economic insolvency; bankruptcy; settlement agreement; mediations agreement.
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Information about the author
Kamenkov V.S. (Minsk) – Doctor of Legal Sciences, Professor, Honored Lawyer of the Republic of Belarus, Head of the Department of Financial Law and Legal Regulation of Economic Activity of the Belarusian State University, Chairman of the Public Association «Belarusian Republican Union of Lawyers» (220030, Minsk, Leningrad st., 8, room 203–204; e-mail: email@example.com).