District court named a key aspect in the termination of the bankruptcy case

The Arbitration court of the Moscow District considered the case on the complaint of one of the debtor's creditors against the decision to terminate the insolvency proceedings.  The courts of the first and appeal instances considered it proven that the debtor's property was not available for further proceedings, but the district did not agree with this position.

Considering the case, the lower instances referred to the absence of the debtor's property necessary for conducting the procedure, as well as the creditor's disagreement to finance the bankruptcy, in connection with which they terminated the proceedings.

However, the district court indicated the ambiguity of this position, since the case file contained a report made by the interim manager, who concluded that the debtor's property was present and the possibility of initiating bankruptcy proceedings against him.

According to the district court, establishing the fact of the lack of the required amount of property is a priority question, only after the solution of which it makes sense to turn to lender for consent to finance the procedure.

The courts, on the other hand, did not pay enough attention to the decision on the issue and were satisfied with the conclusion of the bankruptcy trustee about the absence of property.

The case had been sent for reconsideration, within the framework of which it is ordered to pay more attention to the mistakes made earlier and to issue a lawful and substantiated judicial act (decision in case № A40-147652 / 2019 of September 21, 2021).