We know everything about bankruptcy
19/09/2024
Thursday
19 September 
1970 Scott Fahlman proposed using emoticons as a way to express emotions on the Internet.
1970 The Council of People's Commissars of the RSFSR banned the export of art and historical monuments abroad.
1970 The first beauty contest was held in Belgium.
SUPREME COURT OF RUSSIA: WHAT ARE THE ACTIONS OF CREDITOR IN THE EVENT OF TERMINATION OF THE AGREEMENT WITH BANKRUPT
The courts of three instances came to a unanimous conclusion about the need to transfer the car to the seller's bankruptcy estate.
The judges indicated that after the parties terminated the concluded purchase and sale agreement, the ownership of the car passed back to the debtor.
The lender exercised his right to receive money for the car by including this claim in the register of creditors’ claims. Moreover, the judges considered that after receiving the car, the debtor's manager would be able to sell it and settle accounts with creditors, including the failed buyer of the car.
However, this position was not supported by the Supreme Court of Russia. The Economic Board recalled that the termination of the agreement does not provoke the reverse transfer of ownership of the disputed item. This is possible only after restitution, when the buyer returns the goods and the seller returns the money.
Consequently, up to this moment, the car cannot be included in the debtor's bankruptcy estate.
In the case under consideration, when the debtor could not return the money paid for the goods, the Supreme Court of Russia offered the parties two options for getting out of the conflict:
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the creditor keeps the car, includes a claim for damages in the register of creditors’ claims, while their value is adjusted taking into account the value of the goods;
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the creditor transfers the car to the bankruptcy estate, in which case the former buyer becomes the collateral lender. Subsequently, his claims are satisfied in accordance with article 138 of the Insolvency Law.
In both cases, the rights of the creditor-purchaser and the debtor-bankrupt are retained. Tap the link for the full text of the definition No. 307-ES21-5824 dated July 22, 2021.
