RusBankrot
We know everything about bankruptcy
27/04/2024
Saturday
THIS DAY IN HISTORY:
27 April 
1970 The opening of the subway in Yekaterinburg
1970 The opening of the subway in Yekaterinburg
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The beginning of the civil war in Afghanistan, which continues up to this day
1970 The beginning of the civil war in Afghanistan, which continues up to this day
27 April
1970 The opening of the subway in Yekaterinburg
1970 The opening of the subway in Yekaterinburg
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The population was evacuated from Pripyat after the Chernobyl accident - all 40 thousand inhabitants were evacuated in 3 hours
1970 The beginning of the civil war in Afghanistan, which continues up to this day
1970 The beginning of the civil war in Afghanistan, which continues up to this day
FEATURES OF THE SALE OF SHARES IN A CLOSED-END MUTUAL INVESTMENT FUND AT BANKRUPTCY AUCTIONS
As part of the case on the insolvency of a citizen (No. A40-116709/19), the debtor and the manager filed applications to challenge the auction for the sale of shares owned by the debtor to a closed mutual investment fund.
The courts of the first and cassation instances satisfied the requirements based on violation of the bidding form, failure to inform an indefinite range of potential buyers of the requirement to have the status of a qualified investor recognized by the fund's management company and absent from the acquirer.
The appeal refused to challenge the auction, pointing out that the auction was conducted by the manager on the basis of the regulations on the sale of property approved by the court, as well as the circumstances that the auction notice contains all the information necessary for closed auctions on limiting the number of persons participating in the auction (only qualified investors).
The Supreme Court of the Russian Federation referred the complaint of the winner of the auction to the board and emphasized the following arguments of the applicant:
"The winner has confirmed the status of a qualified investor: a notification has been submitted by a bank licensed for brokerage activities on the assignment of the status of a qualified investor in respect of all types of transactions, securities, fixed-term contracts and other financial instruments.
The bidding was conducted on a competitive basis, the applications of other bidders were rejected due to late deposit and non-confirmation of the status of a qualified investor.
The auction notice contains a requirement for participants to have the status of a qualified investor, which means observing a limited turnover of shares and actually conducting closed auctions."
The courts of the first and cassation instances satisfied the requirements based on violation of the bidding form, failure to inform an indefinite range of potential buyers of the requirement to have the status of a qualified investor recognized by the fund's management company and absent from the acquirer.
The appeal refused to challenge the auction, pointing out that the auction was conducted by the manager on the basis of the regulations on the sale of property approved by the court, as well as the circumstances that the auction notice contains all the information necessary for closed auctions on limiting the number of persons participating in the auction (only qualified investors).
The Supreme Court of the Russian Federation referred the complaint of the winner of the auction to the board and emphasized the following arguments of the applicant:
"The winner has confirmed the status of a qualified investor: a notification has been submitted by a bank licensed for brokerage activities on the assignment of the status of a qualified investor in respect of all types of transactions, securities, fixed-term contracts and other financial instruments.
The bidding was conducted on a competitive basis, the applications of other bidders were rejected due to late deposit and non-confirmation of the status of a qualified investor.
The auction notice contains a requirement for participants to have the status of a qualified investor, which means observing a limited turnover of shares and actually conducting closed auctions."
29.12.2023
