Should the financial manager approved in the case concerning the insolvency (bankruptcy) of a citizen act as a mediator?

Relevance . Since 2015, the mechanism of judicial bankruptcy of citizens has been successfully implemented on the basis of the Federal Law of October 26, 2002 “On Insolvency (Bankruptcy)”. The number of citizens declared bankrupt is increasing every year. The legal consequences of declaring a citizen bankrupt negatively impact the citizen's future life, despite the fact that in most cases the citizen is released from fulfilling obligations. It is advisable to persuade the citizen and his creditors to come to an agreement. One of the options for resolving this situation is to contact a mediator and enter into a mediation agreement. An interesting question is whether a financial manager, being a key figure in the insolvency (bankruptcy) case of a citizen, can be a mediator. Purpose : to scientifically substantiate the complexity of the practical implementation of the empowerment of a financial manager as a mediator in a case of insolvency (bankruptcy) of a citizen. Objective : to scientifically substantiate the complexity of the practical implementation of the empowerment of a financial manager as a mediator in a case of insolvency (bankruptcy) of a citizen; to identify the general and distinctive requirements imposed on the candidates being studied; formulate proposals for improving legislation on the identified issue. Methodology . The article uses logical, formal-legal, comparative-legal methods, as well as the method of legal forecasting. Results . The study identifies both common and distinct requirements applicable to candidates for the roles of financial manager and mediator. It establishes that the roles of mediator and financial manager entail fundamentally different legal statuses. While integrating mediation techniques into personal bankruptcy proceedings is highly beneficial, this should be carried out by separate individuals, or the financial manager should possess mediation competencies to mitigate conflict during the bankruptcy process. Conclusion . Dual status: financial manager - mediator is possible only if the requirements of the Bankruptcy Law and the Mediation Law are met.