RusBankrot
We know everything about bankruptcy
19/12/2025
Friday
THIS DAY IN HISTORY:
19 December 
1970 The last Order of the Red Star was issued.
1970 The T-34 tank was adopted by the Soviet Defense Committee.
1970 the T-34 tank was adopted by the Soviet Defense Committee.
1970 Frederick Walton patented linoleum.
1970 Frederick Walton patented linoleum.
19 December
1970 The last Order of the Red Star was issued.
1970 The T-34 tank was adopted by the Soviet Defense Committee.
1970 the T-34 tank was adopted by the Soviet Defense Committee.
1970 Frederick Walton patented linoleum.
1970 Frederick Walton patented linoleum.
CHALLENGING THE GRATUITOUS ALIENATION OF PROPERTY IN FAVOR OF THE DAUGHTER IN THE PRESENCE OF SIGNS OF INSOLVENCY OF THE GUARANTOR
The manager appealed to the court with a demand to invalidate the donation agreement between the debtor and his daughter in relation to the parking space (case no. A40-207198/23).
In rejecting the application, the courts of two instances proceeded from the fact that the debtor, who was a guarantor for several of the company's credit obligations, as well as its sole participant and CEO, had no signs of insolvency as of the date of the transaction. Thus, the courts pointed out that in the period before the transaction, the company was still active and did not allow debts to arise, and the first demands for fulfillment of obligations under the guarantee agreement were sent almost a year after the contested transaction.
The cassation granted the application, referring to the fact that the associated company's obligations to the bank under the agreement on lending to a legal entity had not been properly fulfilled for a long time and could not be fulfilled in a timely manner due to a significant deterioration in its financial condition, which was confirmed by judicial acts in other cases on the bank's inclusion in the register of creditors' claims.
The Court of cassation agreed with the arguments of the manager that the debtor had signs of insolvency at the date of the transaction due to the fact that at the time when the debtor, as a guarantor, assumed obligations to jointly and severally answer to creditors for the borrower's fulfillment of the latter's payment obligations under loan agreements, the borrower already had accounts payable, confirmed by court decisions on other things. The awareness of the other party to the transaction about the transaction to the detriment of the property interests of the debtor's creditors, about the signs of the debtor's insolvency is presumed.
The district Court additionally noted the lack of justification for the economic motive and expediency of alienating the parking space in favor of the minor on the date of the transaction, the debtor's daughter, in the absence of information about her driver's license and car. Moreover, as the applicant of the cassation complaint points out, the debtor awarded all the property belonging to him, including another car seat to his other child on the same day, as a result of which there is no property in the debtor's bankruptcy estate at the expense of which creditors' claims could be further satisfied.
Taking into account the above circumstances, the district court concluded that the gratuitous alienation of the debtor's property during the three-year period prior to the initiation of insolvency (bankruptcy) proceedings against the debtor in favor of his daughter, in the presence of signs of insolvency at the date of the transaction, was aimed at harming the property rights of the debtor's creditors, which together form the grounds for invalidation of the transaction.
Photo: Freepik
In rejecting the application, the courts of two instances proceeded from the fact that the debtor, who was a guarantor for several of the company's credit obligations, as well as its sole participant and CEO, had no signs of insolvency as of the date of the transaction. Thus, the courts pointed out that in the period before the transaction, the company was still active and did not allow debts to arise, and the first demands for fulfillment of obligations under the guarantee agreement were sent almost a year after the contested transaction.
The cassation granted the application, referring to the fact that the associated company's obligations to the bank under the agreement on lending to a legal entity had not been properly fulfilled for a long time and could not be fulfilled in a timely manner due to a significant deterioration in its financial condition, which was confirmed by judicial acts in other cases on the bank's inclusion in the register of creditors' claims.
The Court of cassation agreed with the arguments of the manager that the debtor had signs of insolvency at the date of the transaction due to the fact that at the time when the debtor, as a guarantor, assumed obligations to jointly and severally answer to creditors for the borrower's fulfillment of the latter's payment obligations under loan agreements, the borrower already had accounts payable, confirmed by court decisions on other things. The awareness of the other party to the transaction about the transaction to the detriment of the property interests of the debtor's creditors, about the signs of the debtor's insolvency is presumed.
The district Court additionally noted the lack of justification for the economic motive and expediency of alienating the parking space in favor of the minor on the date of the transaction, the debtor's daughter, in the absence of information about her driver's license and car. Moreover, as the applicant of the cassation complaint points out, the debtor awarded all the property belonging to him, including another car seat to his other child on the same day, as a result of which there is no property in the debtor's bankruptcy estate at the expense of which creditors' claims could be further satisfied.
Taking into account the above circumstances, the district court concluded that the gratuitous alienation of the debtor's property during the three-year period prior to the initiation of insolvency (bankruptcy) proceedings against the debtor in favor of his daughter, in the presence of signs of insolvency at the date of the transaction, was aimed at harming the property rights of the debtor's creditors, which together form the grounds for invalidation of the transaction.
Photo: Freepik
18.12.2025
