RusBankrot
We know everything about bankruptcy
05/12/2025
Friday
THIS DAY IN HISTORY:
5 December 
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
5 December
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
BALANCING THE INTERESTS OF CREDITORS AND THE POWERS OF THE MANAGER IN DISPUTES OVER TRANSACTIONS 16+
The creditor complained to the court about the inaction of the manager (case no. A83-14879/21).
The courts of two instances granted the complaint in part, referring to the fact that alienation transactions were identified regarding the vehicles, which were not properly analyzed by the manager. It was pointed out that the buyers are interested parties in relation to the debtor, which may indicate the dishonesty of these transactions. The Manager did not provide any justification for why these transactions could not be challenged on general grounds.
In addition, information about the possibility of creditors independently challenging the transaction was not provided at the creditors' meeting. At the same time, the courts recognized only actions related to the analysis of transactions as illegal, and rejected the demands for an assessment of property and approval of the sale procedure, since this concerned property that had already been disposed of by the debtor.
The cassation court annulled the judicial acts in part, refusing to satisfy the claims and pointing out the following. The manager did not provide evidence of taking timely measures to conduct a proper analysis of transactions for the alienation of vehicles. However, recognizing some of the actions of the manager as illegal, the court pointed out that the conclusions of the lower courts regarding the creditor's requirements for assessing and approving the sale of property were erroneous. Since this concerned property that had been removed from the debtor's ownership and was not part of the bankruptcy estate, these claims could not be recognized as legitimate. Thus, the Court of Cassation annulled the acts of the lower courts regarding the recognition of the illegal inaction of the administrator on these issues.
Additionally, the court stated that the manager is obliged to act in good faith and reasonably in the interests of all parties to the process. The need to analyze the debtor's transactions was confirmed by the case materials, however, the conclusions of the courts regarding the creditor's other claims turned out to be contradictory and did not correspond to the established circumstances.
Photo: Freepik
The courts of two instances granted the complaint in part, referring to the fact that alienation transactions were identified regarding the vehicles, which were not properly analyzed by the manager. It was pointed out that the buyers are interested parties in relation to the debtor, which may indicate the dishonesty of these transactions. The Manager did not provide any justification for why these transactions could not be challenged on general grounds.
In addition, information about the possibility of creditors independently challenging the transaction was not provided at the creditors' meeting. At the same time, the courts recognized only actions related to the analysis of transactions as illegal, and rejected the demands for an assessment of property and approval of the sale procedure, since this concerned property that had already been disposed of by the debtor.
The cassation court annulled the judicial acts in part, refusing to satisfy the claims and pointing out the following. The manager did not provide evidence of taking timely measures to conduct a proper analysis of transactions for the alienation of vehicles. However, recognizing some of the actions of the manager as illegal, the court pointed out that the conclusions of the lower courts regarding the creditor's requirements for assessing and approving the sale of property were erroneous. Since this concerned property that had been removed from the debtor's ownership and was not part of the bankruptcy estate, these claims could not be recognized as legitimate. Thus, the Court of Cassation annulled the acts of the lower courts regarding the recognition of the illegal inaction of the administrator on these issues.
Additionally, the court stated that the manager is obliged to act in good faith and reasonably in the interests of all parties to the process. The need to analyze the debtor's transactions was confirmed by the case materials, however, the conclusions of the courts regarding the creditor's other claims turned out to be contradictory and did not correspond to the established circumstances.
Photo: Freepik
08.08.2025
