RusBankrot
We know everything about bankruptcy
29/12/2024
Sunday
THIS DAY IN HISTORY:
29 December 
1970 The 36-year civil war in Guatemala ended in reconciliation between the parties.
1970 Catherine II introduced paper money.
1970 Catherine II introduced paper money.
1970 The Russian Empire was divided into eight provinces by the decree of Peter I.
29 December
1970 The 36-year civil war in Guatemala ended in reconciliation between the parties.
1970 Catherine II introduced paper money.
1970 Catherine II introduced paper money.
1970 The Russian Empire was divided into eight provinces by the decree of Peter I.
NON-PROVISION OF FUNDS FOR POSSIBLE CREDITORS MAY GO SIDEWAYS
In the framework of the debtor's bankruptcy case, the first instance included the creditor's claims in the relevant register, but the appeal recognized these claims as unfounded. The creditor appealed to the cassation with a complaint. At the same time, the manager did not take into account the fact of filing a complaint and began settlements with creditors.
The manager's inaction forced the creditor to file a complaint with the court.
Positions of lower courts
Three instances refused to satisfy the creditor's complaint.
The lower courts did not find any violations of bankruptcy law in the actions of the manager. They did not see any grounds for reserving funds, since during the disputed period, the appeal decision that entered into force to refuse to include the creditor's claims in the relevant register was not canceled. And the very fact that the creditor filed a cassation appeal did not stop the effect of this resolution.
The appeal also noted that if the creditor's claims are found to be justified, the possibility of satisfying them will not be lost, since the bankruptcy estate can still be replenished.
The position of the Supreme Court
The higher instance did not agree with the position of the lower courts, annulled their judicial acts and declared illegal the inaction of the administrator (Ruling of the Supreme Court dated 12/21/2023 in case A41-29542/2014 (305-ES16-11710 (4)).
In arguing its position, the court cited the following arguments:
• In this dispute, on the eighth day after the adoption of the appeal against the decision to recognize the claim of the institution as unfounded, this decision was appealed in cassation.
• A bona fide Arbitration Administrator in such a situation would reserve sufficient funds to meet the requirements of the institution.
• The references of the court of Appeal to the fact that there is a possibility of replenishment of the bankruptcy estate and, as a result, the possibility of repayment of the creditor's claim at the expense of other assets of the debtor is not excluded, do not eliminate the unfair behavior of the manager.
• The courts also did not establish that the debtor had property that would be sufficient to repay the creditor's claim.
The manager's inaction forced the creditor to file a complaint with the court.
Positions of lower courts
Three instances refused to satisfy the creditor's complaint.The lower courts did not find any violations of bankruptcy law in the actions of the manager. They did not see any grounds for reserving funds, since during the disputed period, the appeal decision that entered into force to refuse to include the creditor's claims in the relevant register was not canceled. And the very fact that the creditor filed a cassation appeal did not stop the effect of this resolution.
The appeal also noted that if the creditor's claims are found to be justified, the possibility of satisfying them will not be lost, since the bankruptcy estate can still be replenished.
The position of the Supreme Court
The higher instance did not agree with the position of the lower courts, annulled their judicial acts and declared illegal the inaction of the administrator (Ruling of the Supreme Court dated 12/21/2023 in case A41-29542/2014 (305-ES16-11710 (4)).In arguing its position, the court cited the following arguments:
• In this dispute, on the eighth day after the adoption of the appeal against the decision to recognize the claim of the institution as unfounded, this decision was appealed in cassation.
• A bona fide Arbitration Administrator in such a situation would reserve sufficient funds to meet the requirements of the institution.
• The references of the court of Appeal to the fact that there is a possibility of replenishment of the bankruptcy estate and, as a result, the possibility of repayment of the creditor's claim at the expense of other assets of the debtor is not excluded, do not eliminate the unfair behavior of the manager.
• The courts also did not establish that the debtor had property that would be sufficient to repay the creditor's claim.
30.01.2024
