Formation and development of concurs law in modern Ukraine

Abstract

This article is devoted to specific issues in the area of bankruptcy, particularly to terminological aspects of the proceedings in this type of cases, which are competitive by its nature. The word combination “Concurs Law” is not well known in modern Ukraine though is quite widely used in scholar literature. The author of the article argues that concurs (competition by its nature) of the creditors toward the assets of a person declared insolvent or bankrupt is the origin of the bankruptcy proceedings.