Any commercial activities of the company and (or) an entrepreneur, by definition, is associated with risk. Enterprise or an entrepreneur, taking part in economic exchange, usually at the same time acts as a debtor relative to other economic entities (including State on obligatory payments) and as a lender, so there is a constant process, reflected in the expression "Someone owes me who I should." This process more than less constant and inevitable due to the fact that the commitments in the implementation of the economic activity of the subject are constantly emerging and stop. Insolvency (Bankruptcy) (hereinafter and – the bankruptcy) – recognized by the arbitral tribunal the debtor's inability to fully satisfy the claims of creditors on monetary obligations and (or) to fulfill the obligation to make mandatory payments to draw attention to the words "recognized the failure, ie legally established, and the judicial branch of state government recognized as insolvent. As recognized by the court, others have no choice but to recognize, and from that moment on, all your creditors to understand the simple truth, "Your company insolvent. The Institute of bankruptcy has long been known and legally installed in most developed countries. Russia is not exception. Legislator of the Russian Federation does not provide for alternative methods of elimination, ie termination of the legal person in the presence of debt (in the first place is implied debt payments) besides bankruptcy. Career award administration (bankruptcy) in modern terms – is: The only legitimate (legal) way to eliminate the company or individual entrepreneur with debts (including budget); Liquidation of the enterprise (company) with complete exclusion from the Unified State Register of Legal Entities, respectively, an entrepreneur from the unified state register of individual businessmen, other words, a complete and unconditional cessation of legal or natural person entrepreneur with no transfer of rights and duties in order of succession; Suspension or termination (depending on the procedure) executive production and removal of all arrests in property, property rights; Address issues related to tax audits, accounts payable, regardless of its (debt type, size and base occurrence); Protect your business from hostile creditors, unwanted mergers and (or) absorption; Career Collection of accounts receivable.