RusBankrot
We know everything about bankruptcy
05/12/2025
Friday
THIS DAY IN HISTORY:
5 December 
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
5 December
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
INTEREST-FREE LOANS BETWEEN THE GROUP'S COMPANIES - A PATH TO FINANCIAL HEALTH OR COLLAPSE?
The manager appealed to the court with a demand to bring the controlling persons to subsidiary responsibility for bringing the debtor to bankruptcy (case no. A45-6392/21).
Partially satisfying the application, the courts of the two instances were guided by the fact that interest-free loan agreements for significant amounts had been concluded between the debtor and the affiliated company, and the actual transfers amounted to an even larger amount. At the same time, significantly less has been returned, and the remaining debt has not been repaid. The unfair nature of the relationship was established on the grounds that the loans were provided on an interest-free basis, which deprived the debtor of economic benefits. Transfers were chaotic, refunds were haphazard, and attempts to recover debts through the courts were unsuccessful. It was also established that the funds intended for the debtor were systematically transferred to the account of the affiliated company, despite the absence of contractual relations between them.
The cassation sent the dispute for reconsideration in part, noting that the courts had not taken into account important circumstances of the case, such as counter-transfers between affiliated companies that could compensate for payments to another company. The movement of funds within the group of companies has not been properly investigated to determine whether it has worsened the debtor's financial condition.
In the opinion of the court, the courts also violated procedural rules by not involving the debtor's financial asset manager in the case. In addition, the courts did not evaluate the defendants' arguments about the insignificance of the violations and the insignificance of the harm caused. The reasons for the objective bankruptcy related to the market situation in the field of housing management have not been investigated.
Photo: Freepik
Partially satisfying the application, the courts of the two instances were guided by the fact that interest-free loan agreements for significant amounts had been concluded between the debtor and the affiliated company, and the actual transfers amounted to an even larger amount. At the same time, significantly less has been returned, and the remaining debt has not been repaid. The unfair nature of the relationship was established on the grounds that the loans were provided on an interest-free basis, which deprived the debtor of economic benefits. Transfers were chaotic, refunds were haphazard, and attempts to recover debts through the courts were unsuccessful. It was also established that the funds intended for the debtor were systematically transferred to the account of the affiliated company, despite the absence of contractual relations between them.
The cassation sent the dispute for reconsideration in part, noting that the courts had not taken into account important circumstances of the case, such as counter-transfers between affiliated companies that could compensate for payments to another company. The movement of funds within the group of companies has not been properly investigated to determine whether it has worsened the debtor's financial condition.
In the opinion of the court, the courts also violated procedural rules by not involving the debtor's financial asset manager in the case. In addition, the courts did not evaluate the defendants' arguments about the insignificance of the violations and the insignificance of the harm caused. The reasons for the objective bankruptcy related to the market situation in the field of housing management have not been investigated.
Photo: Freepik
11.09.2025
