THE CHANGE OF OWNERS OF THE UFA BUSINESS CENTER WAS DECLARED ILLEGAL

The story of the Ufa business center Pro-Credo has continued in arbitration. The Femy has recognized as illegal the scheme, according to which part of the commercial real estate in the business center building changed owners already in the process of insolvency of the company-owner. Now the real estate must be returned to the debtor – the firm "Sirius".

"Sirius" was established 13 years ago in the capital of Bashkortostan for conducting trade in agricultural raw materials. Three years ago, the company was officially declared bankrupt. Today, Pro-Credo is home to various tenants, including a foreign language learning center, beauty studios, a security company, a tattoo and piercing salon, a hardware store, and other services.

Sirius, a company controlled by Valery Skornyakov, owned a 76% stake in the business center. Six years ago, the company mortgaged the building to entrepreneur Ramiz Sultanov, who had already repaid the company's \$40 million debt. The following year, the Bashkir Arbitration Court initiated a case of insolvency against the company. Due to unfulfilled obligations, the company's assets were transferred first to Sultanov and then to the new owners.

Valery Semenov, who was appointed as the bankruptcy trustee, challenged the transactions. He argued that they were sham transactions. According to Semenov, the asset was intentionally removed from the debtor's ownership in order to avoid paying off debts. Among the creditors who were still owed money were Sberbank, Ak Bars, and the tax authorities. However, Skornyakov and Sultanov insisted that the transfer of the property was legal. They cited a district court verdict that confirmed the non-repayment of the debt as their argument. However, the arbitration court indicated that this decision was used solely to remove the property.

The court established the interconnectedness of the parties involved in the transactions. For example, the companies of both businessmen were registered at the same address. The final purchasers of the real estate were individuals who had close business and personal relationships with them. A notable example is Lipagina's purchase of a Lexus car, which had previously been seized by a credit institution from Skornyakov due to his personal insolvency. Subsequently, the bankrupt himself was included in the car's insurance, allowing him to use it.

It was also revealed that the financial capabilities of the property buyers did not allow them to make such large transactions. Their income level was clearly insufficient to purchase assets worth approximately 40 million rubles. The court concluded that all the transactions were intended to dispossess the property and remove it from the bankruptcy estate in order to prevent the creditors' claims from being satisfied. The transactions were declared null and void.

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