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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.
Supreme Court of Russia clarified the difference between the currency of debt and the currency of payment
As a part of the insolvency case, the bankruptcy trustee applied to the court with a demand to invalidate the supplementary agreement to the lease concluded between the debtor and the creditor. The courts of three instances satisfied the application, but the Supreme Court of Russia canceled the rulings, pointing out the errors in their adoption.
The question concerned a long-term lease agreement to which the parties signed an additional agreement.
The bankruptcy trustee considered the additional agreement an onerous deal, indicating that the rental price agreed in it was clearly overstated, the document was signed in case of abuse of the right and violated the property rights of creditors. The judges of three instances agreed with this position.
However, Supreme Court of Russia indicated that in order to determine the amount of harm caused to creditors, it was necessary to compare the amount of the debtor's obligations after signing the agreement with the amount of obligations that would have been left without such signing. In the case under consideration, without signing an agreement, the volume of obligations would have just been increased.
The fact is that the controversial agreement reduced the size of the annual lease payment, since before its signing, the currency of the debt was the dollar, which increased significantly.
The question concerned a long-term lease agreement to which the parties signed an additional agreement.
Under the terms of the contested document, the base part of the rent was increased, the term of the contract was extended, and the amount of annual indexation was established.
As part of the insolvency case, the debt to the lessor was included in the debtor's register of creditors’ claims. The claim was based, among other things, on the contested supplementary agreement to the contract.The bankruptcy trustee considered the additional agreement an onerous deal, indicating that the rental price agreed in it was clearly overstated, the document was signed in case of abuse of the right and violated the property rights of creditors. The judges of three instances agreed with this position.
However, Supreme Court of Russia indicated that in order to determine the amount of harm caused to creditors, it was necessary to compare the amount of the debtor's obligations after signing the agreement with the amount of obligations that would have been left without such signing. In the case under consideration, without signing an agreement, the volume of obligations would have just been increased.
The fact is that the controversial agreement reduced the size of the annual lease payment, since before its signing, the currency of the debt was the dollar, which increased significantly.
At the same time, the ruble remained the currency of payment, which meant that the exchange rate of the dollar against the ruble was significant when fulfilling obligations.
By an additional agreement, this circumstance was changed, and the debt of the bankrupt company became less than it would have been if the parties had not signed the additional agreement. Thus, the bankruptcy trustee was unable to confirm that the contested document caused damage to the property rights of creditors (decision ¹ 305-ES18-19395 (12) of August 19, 2021 in case No. A40-216122 / 2016).
17.09.2021
