The concept of a creditor in a case of bankruptcy (insolvency)

The article examines the concepts and types of creditors in the case of bankruptcy (insolvency). Attention is drawn to the fact that in the conditions of economic instability caused by the state of war in Ukraine, the number of bankruptcy cases is increasing. Many economic entities found themselves in a state of inability to pay their debts and, as a result, the impossibility of carrying out further economic activities. Therefore, it is more important to clearly define the status of creditors, especially in the conditions of Ukraine’s desire to overload the economy in difficult conditions and attract investments for reconstruction. It is emphasized that the creditor has one of the main positions when considering a bankruptcy (insolvency) case. The achievement of the main goal of bankruptcy depends on the determination of its legal status, rights and obligations, as well as the ability to use them - the satisfaction of creditors’ demands, as well as the restoration of the solvency of an individual. The concept of a creditor according to legislation and the opinions of scientists regarding the legal status of a creditor are analyzed. The categories of creditors were identified and considered, their features and powers were determined depending on the category. Amendments to the legislation regarding the definition of privileged creditors as those whose claims do not require judicial recognition and can be satisfied throughout the bankruptcy procedure are proposed. The opinion is supported that the legal status of the creditor as a participant in the bankruptcy case is complex and includes material and procedural components. The material relations between the debtor and the creditor in insolvency law must necessarily be transformed into procedural ones, otherwise, after the initiation of bankruptcy proceedings, the material relations will not be able to be realized. It has been proven that the creditor acquires the procedural status of a participant not after the court issues a decision on the recognition of his claims, since then the legitimate basis for the creditor to take procedural actions disappears, but from the moment the court receives the creditor’s statement with requirements to the debtor, which is submitted by a person on the basis of legislation. It is noted that, taking into account the new economic realities, it is important to review the order of satisfaction of creditors’ demands, especially in the context of the destruction and losses caused by the war. The need to introduce more transparent mechanisms of interaction between the debtor and creditors, including digital tools for monitoring bankruptcy cases, was emphasized.