The court clarified the specifics of recognizing financing as compensatory

The court clarified the specifics of recognizing financing as compensatory

The court clarified the specifics of recognizing financing as compensatory
The district court considered the case on the complaint of one of the creditors, who remained dissatisfied with the ruling issued by the court of appeal. It dealt with the inclusion of the claim of the appealer  in the register of creditors’ claims, but the lower instance applied the provision on compensatory financing and downgraded the claims.

The debt to the creditor was based on the assignment agreement under which the applicant acquired the debt. Moreover, the agreement was signed after the initiation of the debtor's insolvency proceedings.

The court of first instance, having considered the evidence presented, satisfied the claim to include the debt in the register of creditors’ claims.

However, in the appeal, it was considered that by signing the assignment, the applicant made compensatory financing, since he was a person affiliated with the debtor and managed it through a group of companies.

The district court did not agree with this position, stating that the acquisition of debt under an assignment agreement after the initiation of a bankruptcy case cannot be considered compensatory financing, since it is impossible to hide the fact of the debtor's insolvency: bankruptcy proceedings are always public. Moreover, the cassation instance recalled that it is wrong to downgrade the creditor's claims only due to the fact of his affiliation with the debtor.

As a result, the ruling of the court of appeal was canceled, and the court of first instance was upheld (ruling in case No. À40-121456 / 2020 of September 30, 2021).


01.12.2021