The article provides the analysis on the legal activity regulation of trustees in bankruptcy appointed based on materials of the Russian legislation and practice of its application. The authors have tried to bring general theoretical questions as close as possible to existing problems arising in the course of applying bankruptcy legislation. Aim: justify the need to improve the application effectiveness of bankruptcy legislation by improving the rules relating to trustees in bankruptcy as the main participant in bankruptcy procedures. Methodology: dialectic method of cognition, techniques of formal logic, general scientific and private scientific methods were used. Results: the paper considered problematic issues of interpretation and application of the norms of the current Russian legislation arising in work of the financial manager appointed in the bankruptcy case of a citizen. There is a statistical analysis of the main results of applying the current Russian bankruptcy law. There is a legal uncertainty in the Russian bankruptcy law regarding the content of its rights and obligations. A critical assessment of law enforcement practice is given, according to which a situation arises when financial managers do not fulfill a number of their duties or execute at their discretion. Conclusions: attention was drawn to the need to prepare the act of official interpretation of the law on the most pressing issues of the arbitration manager.

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