The article is devoted to the synthesis of the Latvian scientists' research of companies' insolvency assessment in the background of the legal regulation reform in the 1998-2017. The Latvian regulatory enactments of insolvency are continuous improved since 1996. Thanks to the lawyers' studies in the assessment of the insolvency system, from 2012, several problems were identified and work has begun in solving them. During the relevant period, 78 studies were conducted among Latvian economists trying to understand the economic problems of insolvency of Latvian companies and trying to adapt forecasting models, which are suitable for local conditions.As a result, 19 forecasting models were tested, from which the Altman and Zmievski models are the most suitable ones with accuracy above 60%. 4 Latvian models were developed, among the most accuracies are the Shorin /Voronova and Genrihas et al. models. The quantity of companies to be inspected and the methods used to assess the accuracy of models do not allow a clear comparison of the assessments made by Latvian researchers. Key words: bankruptcy, bibliometrical research, forecasting models, Latvia.