September 27, 2012 the conference of NGO “Self-Regulatory Organization of Insolvency Practitioners” started its activity. The event was attended by representatives of more than 20 regions of Ukraine, leading experts and scientists of the insolvency process. Were taken the following decisions: to create an organization and its regional branches, the approval of the Charter of the organization and establishment of governing bodies. Under the provisions of the organization’s statutes governing bodies is the Conference and Assembly, comprising the Presidium, which is headed by the President and members of the local branches. The members of the Presidium included Judge of the Constitutional Court of Ukraine (retired) and leading expert in the field of bankruptcy and insolvency Viacheslav Dzhun, Deputy Director of the Institute of International Relations of Kyiv National Taras Shevchenko University for Science and International Affairs, Doctor of Law Oleksandr Biriukov, Head of the Committee of the competition law of UBA, managing partner of AC “Tytych and partners” Vitalii Tytych and Anatolii Viazovchenko. In addition, at the founding conference unanimously was adopted a decision approving the arbitration rules of arbitration managers, who are based on the Code of Ethics and Professional behavior of arbitration managers, developed within the International Finance Corporation project «Investment climate in Ukraine.” Rules would be obligatory for fulfillment by members of the self-regulatory organization according to the Law of Ukraine “On restoring the debtor’s solvency or bankruptcy.” Also, the decision regarding future membership in the International Association of Professionals restructuring, insolvency and bankruptcy (INSOL) was taken.