Insolvency criteria under EU, French and Ukrainian laws

The extreme complexity of the modern law leads that more and more lawyers are looking for a specialization, in-depth knowledge and therefore synonym to skill. But if this approach has an obvious positive aspect, it sometimes receives a disadvantage to leave in a shadow the issues that are in the intersection of several disciplines. In the conflicts and subordination of special legal rights, nowadays the interesting thesis topics can be found. In the insolvency law, the countries have to solve a number of questions, the formal and the substantial aspects. Notwithstanding the diversity of background issues to be solved, the insolvency legislation is a law of a procedural character. The rules of the collective proceedings are vested to play a crucial role in the allocation of the risks between the various actors during the judicial process. However, the key question of the procedure is to define the trigger criteria for the introduction of collective proceedings.
The first part of the study demonstrates that the insolvency criteria exist always but their meaning has been changing over the years and has been depending upon the system of law of the country.
The second part of this research is devoted to the content of the insolvency criteria in France, Ukraine and in the EU.
A second issue of the research is to see how the third criterion (the imminent illiquidity) has been appeared in the French and Ukrainian law and when the reform of insolvency law in Ukraine has stopped.The internationalization of the economy necessarily leads to the situations of possible dysfunction of the multinational companies (or even their failure) and / or possessing assets across the globe. We will try to develop a common approach in a European commercial law that would fit into the logical continuation of national legislation.