How the creditor’s inactivity affected the fate of debt in bankruptcy

How the creditor’s inactivity affected the fate of debt in bankruptcy

How the creditor’s inactivity affected the fate of debt in bankruptcy
Supreme Court of Russia considered a case in the framework of which one of the creditors made a request to include the claim based on a suretyship agreement and a judicial act in the register of creditors’ claims. The application was rejected by three instances, but the Supreme Court of the Russian Federation considered such a position to be incorrect.

Initially, the debt arose from a guarantee that was concluded between the creditor and the future bankrupt.  Subsequently, the main borrower and the lender changed the terms of the agreement by increasing the credit limit.  However, the guarantor did not give his consent to this.

Subsequently, the creditor applied to the arbitration court and received a positive decision to collect the debt, including from the guarantor under the new contract terms that were not agreed with the last one.

An attempt to challenge the judicial act did not lead to success, since the procedural deadline for filing a complaint was missed.

The decision entered into force, and on its basis the creditor tried to join the register of creditors’ claims, but the courts found this unacceptable.  At the same time, the Supreme Court of the Russian Federation reminded its colleagues that the judicial acts that have entered into legal force are binding on judges considering legal issues with the participation of the same persons.  What is more, the court which is engaged in the proceedings of insolvency case, does not have the authority to reconsider the acts that have already been issued and, moreover, those that have entered into force.  As for the creditors who disagree with them, there is a possibility of restoring the procedural time limit for challenging the decisions in the proceedings in which they were issued (decision No. 305-ES21-29326 of May 19, 2022 in case No. A40-109235  /2020).

25.05.2022