diff --git a/compiler/frontend/src/org/jetbrains/jet/lang/types/lang/JetStandardLibrary.java b/compiler/frontend/src/org/jetbrains/jet/lang/types/lang/JetStandardLibrary.java
index 4f57f231574..5dde1648790 100644
--- a/compiler/frontend/src/org/jetbrains/jet/lang/types/lang/JetStandardLibrary.java
+++ b/compiler/frontend/src/org/jetbrains/jet/lang/types/lang/JetStandardLibrary.java
@@ -60,13 +60,13 @@ public class JetStandardLibrary {
     // before any type checking is run
     public static synchronized void initialize(@NotNull Project project) {
         if (instance == null) {
-            if (initializing) {
-                throw new IllegalStateException("builtin library initialization loop");
-            }
             if (initializationFailed != null) {
                 throw new RuntimeException(
                         "builtin library initialization failed previously: " + initializationFailed, initializationFailed);
             }
+            if (initializing) {
+                throw new IllegalStateException("builtin library initialization loop");
+            }
             initializing = true;
             try {
                 instance = new JetStandardLibrary(project);