RusBankrot
We know everything about bankruptcy
19/02/2026
Thursday
THIS DAY IN HISTORY:
19 February 
1970 The Cuban leader, Fidel Castro, announced his retirement from the politics
1970 The Cuban leader, Fidel Castro, announced his retirement from the politics
1970 The oldest Korea's bank, Shinhan Bank, was opened
1970 The oldest Korea's bank, Shinhan Bank, was opened
1970 The French mathematician and astronomer Urbain Leverrier presented the first world's weather forecast
1970 The French mathematician and astronomer Urbain Leverrier presented the first world's weather forecast
19 February
1970 The Cuban leader, Fidel Castro, announced his retirement from the politics
1970 The Cuban leader, Fidel Castro, announced his retirement from the politics
1970 The oldest Korea's bank, Shinhan Bank, was opened
1970 The oldest Korea's bank, Shinhan Bank, was opened
1970 The French mathematician and astronomer Urbain Leverrier presented the first world's weather forecast
1970 The French mathematician and astronomer Urbain Leverrier presented the first world's weather forecast
CRITERIA OF CONSCIENTIOUSNESS OF A CITIZEN UPON RELEASE FROM OBLIGATIONS
The manager applied to the court for the completion of the procedure for the sale of the debtor's property (case no. A40-24645/21).
The courts of two instances released the debtor from his obligations, guided by the fact that an analysis of the debtor's financial condition indicates that there are no signs of deliberate and fictitious bankruptcy, restoration of the debtor's solvency is impossible, and there is no information in the case about the need for any actions within the framework of the procedure for the sale of a citizen's property to repay creditors' claims.
Rejecting the manager's request for non-application of the rules on exemption from obligations against the debtor, due to the late provision of documents and information, the courts indicated that the debtor had sent the relevant documents to the manager, as well as copies of the documents were attached to the case file.
The cassation sent the dispute for reconsideration in part, pointing out that the courts did not give a proper assessment to the arguments of the manager regarding the debtor's failure to provide information about his source of income during the bankruptcy period, failure to comply with the court's ruling on the transfer of necessary documents and information, lack of explanations about the expenditure of borrowed funds, as well as the debtor's refusal to assist the manager, this led to the need to incur the costs of obtaining the necessary information from government agencies at the expense of the bankruptcy estate.
In addition, additional attention should be paid to the creditor's arguments about the need to investigate the circumstances of the debtor's receipt of funds from the creditor, which were established by the final decision of the district court in another case, given that in the framework of the said court proceedings, the debtor denied the fact of signing the loan agreement, claiming that the signature did not belong to him, but to himself the document was later printed on a blank sheet of paper with his signature. However, the conducted handwriting and forensic technical examinations refuted the debtor's claims.
Taking into account the above, the conclusion of the courts that there are grounds for releasing the debtor from further fulfillment of creditors' claims, including creditors' claims that were not declared when the sale of a citizen's property was introduced, is premature, since the issue of the debtor's good faith has not been investigated and fully established by the courts.
Photo: Freepik
The courts of two instances released the debtor from his obligations, guided by the fact that an analysis of the debtor's financial condition indicates that there are no signs of deliberate and fictitious bankruptcy, restoration of the debtor's solvency is impossible, and there is no information in the case about the need for any actions within the framework of the procedure for the sale of a citizen's property to repay creditors' claims.
Rejecting the manager's request for non-application of the rules on exemption from obligations against the debtor, due to the late provision of documents and information, the courts indicated that the debtor had sent the relevant documents to the manager, as well as copies of the documents were attached to the case file.
The cassation sent the dispute for reconsideration in part, pointing out that the courts did not give a proper assessment to the arguments of the manager regarding the debtor's failure to provide information about his source of income during the bankruptcy period, failure to comply with the court's ruling on the transfer of necessary documents and information, lack of explanations about the expenditure of borrowed funds, as well as the debtor's refusal to assist the manager, this led to the need to incur the costs of obtaining the necessary information from government agencies at the expense of the bankruptcy estate.
In addition, additional attention should be paid to the creditor's arguments about the need to investigate the circumstances of the debtor's receipt of funds from the creditor, which were established by the final decision of the district court in another case, given that in the framework of the said court proceedings, the debtor denied the fact of signing the loan agreement, claiming that the signature did not belong to him, but to himself the document was later printed on a blank sheet of paper with his signature. However, the conducted handwriting and forensic technical examinations refuted the debtor's claims.
Taking into account the above, the conclusion of the courts that there are grounds for releasing the debtor from further fulfillment of creditors' claims, including creditors' claims that were not declared when the sale of a citizen's property was introduced, is premature, since the issue of the debtor's good faith has not been investigated and fully established by the courts.
Photo: Freepik
18.02.2026
