Making the Bankruptcy Process More Efficient and Countering Misconduct During Bankruptcy

In the view of insolvency (bankruptcy) experts, the development of the institution of bankruptcy under the current pro-credit model of Russian bankruptcy law has come to a standstill. Statistical data show that the percentage of creditors' claims satisfied has not been higher than 5% for several decades. This percentage has declined in recent years. Meanwhile, the pro-creditor model, with its inherent tools of subsidiary liability and contestation of transactions, has sharply increased. Is the "stick" development method an effective way forward? Is it possible to increase the efficiency of bankruptcy proceedings by developing rehabilitation procedures without a change in bankruptcy law? Is it possible to effectively combat abusive practices in bankruptcy under the current model of appointment of bankruptcy trustees? Is it necessary to further expand the instruments for combating abusive practices in bankruptcy (subsidiary liability, out-of-competition challenge, group insolvency)? Does the "stick" method work without the "carrot"?