عنوان مقاله [English]
The two categories of insolvency and bankruptcy are legal privileges, each of which is presented to the trader or non-trader so that if they are unable to pay their debts, they will be released from the pressure imposed by the creditors. merchants and legal entities cannot legally file for insolvency and have to file for bankruptcy.These two institutions have differences and similarities. One of the effects of the insolvency petition is that if it is submitted to the court within 30 days of the notification of the writ of execution, the convicted person will not be imprisoned until it will be rejected. considering the silence of the legislator, the question arises whether the filing of a bankruptcy petition, like the insolvency, will release the merchant claiming bankruptcy or not? Assuming a positive answer to this question, does filing for bankruptcy have such an effect only within 30 days of notification? This article examines the filing of a bankruptcy petition is a declaration of cease by the merchant and according to commercial law, the ceased merchant is not entitled to pay the debt according to the principle of equal rights of creditors and prohibition of preference of one of the creditors over the other. Otherwise it would be a bankruptcy by fault. As a result, it is certain that the primary effect of filing a bankruptcy petition before execution or within 30 days should be prohibition of applying the guarantee of imprisonment contained in the Law on Execution of Financial Sentences.