RusBankrot
We know everything about bankruptcy
14/05/2024
Tuesday
THIS DAY IN HISTORY:
14 May 
1970 The creation of the CIS Economic Union.
1970 The creation of the CIS Economic Union.
1970 The establishment of the state of Israel and declaration of its independence.
1970 The establishment of the state of Israel and declaration of its independence.
1970 The sale of serfs at the public auctions was prohibited in Russia.
1970 The sale of serfs at the public auctions was prohibited in Russia.
14 May
1970 The creation of the CIS Economic Union.
1970 The creation of the CIS Economic Union.
1970 The establishment of the state of Israel and declaration of its independence.
1970 The establishment of the state of Israel and declaration of its independence.
1970 The sale of serfs at the public auctions was prohibited in Russia.
1970 The sale of serfs at the public auctions was prohibited in Russia.
INCOMPLETE RESTORATION OF CREDITORS' RIGHTS AS A RESULT OF THE DEBTOR'S BAD FAITH PREVENTS DEBT RELIEF
The manager appealed to the court with an application for the completion of the procedure for the sale of property and the release of the debtor from obligations.
Position of the first instance and appeal
The first and appellate instances satisfied the requirements of the manager.
The fact that the debtor alienated the car also did not become a reason for refusing to release it from its obligations, since, as the Court of Appeal pointed out, at the time of consideration of disputes about the invalidity of transactions made with the car, it was transferred to a third party from whom the actual value of the alienated property was recovered from the bankruptcy estate. At the same time, the funds from the realization of the right of claim to a third party entered the bankruptcy estate.
The position of the District Court
The Court of Cassation annulled the lower court acts regarding the debtor's release from obligations to the creditor (the Decision of the AC UO dated November 24, 2023 in case no. A60-37148/20).
The court noted that, according to the report of the financial manager, the right of claim to a third party was realized during the procedure for the sale of property for 100,000 rubles. Thus, judicial acts that have entered into force have established that property worth 707,500 rubles has been lost from the bankruptcy estate. At the same time, 100,000 were received into the bankruptcy estate as compensation for this property. Funds in the amount of 607,500 were not received into the bankruptcy estate as a result of unfair actions of the debtor. The conclusion of the courts that there are no grounds in this case for the complete release of the debtor from further performance of obligations contradicts the circumstances of the case established by the courts.
Position of the first instance and appeal
The first and appellate instances satisfied the requirements of the manager.The fact that the debtor alienated the car also did not become a reason for refusing to release it from its obligations, since, as the Court of Appeal pointed out, at the time of consideration of disputes about the invalidity of transactions made with the car, it was transferred to a third party from whom the actual value of the alienated property was recovered from the bankruptcy estate. At the same time, the funds from the realization of the right of claim to a third party entered the bankruptcy estate.
The position of the District Court
The Court of Cassation annulled the lower court acts regarding the debtor's release from obligations to the creditor (the Decision of the AC UO dated November 24, 2023 in case no. A60-37148/20).The court noted that, according to the report of the financial manager, the right of claim to a third party was realized during the procedure for the sale of property for 100,000 rubles. Thus, judicial acts that have entered into force have established that property worth 707,500 rubles has been lost from the bankruptcy estate. At the same time, 100,000 were received into the bankruptcy estate as compensation for this property. Funds in the amount of 607,500 were not received into the bankruptcy estate as a result of unfair actions of the debtor. The conclusion of the courts that there are no grounds in this case for the complete release of the debtor from further performance of obligations contradicts the circumstances of the case established by the courts.
30.11.2023
