Protection of the Rights of Citizens-Participants in Shared Construction in Case of Insolvency (Bankruptcy) of the Developer

The legislation on insolvency (bankruptcy) seeks to improve decisions in the field of protecting the rights of citizens - participants in shared construction in the event of bankruptcy of the developer. This is evidenced by the fact that in recent years there have been important changes in this area, the most significant of which is the emerging transition to project financing for the construction of apartment buildings and other real estate using an escrow account. Nevertheless, allegations about the effectiveness of innovations are premature, and the issue of eliminating or minimizing risks for participants in shared construction in the event of insolvency of the developer is still an acute issue. Therefore, there is a need to evaluate, by the proposed legislation on insolvency (bankruptcy), ways to protect the rights and interests of citizens participating in shared construction in the bankruptcy case of the developer and to suggest optimal ways to develop this area. The study attempted to give such an assessment of the existing methods of protecting the rights of citizens - participants in shared construction, who have non-monetary and monetary claims against the debtor. It was also possible to identify gaps in the legislation, the elimination of which will help strengthen the position of citizens - participants in shared construction in the bankruptcy case of the developer.