We know everything about bankruptcy
18/04/2024
Thursday
18 April 
1970 The Great Britain recognized the independence of Zimbabwe
1970 The Great Britain recognized the independence of Zimbabwe
1970 The regular bus service began operating in Moscow
1970 The regular bus service began operating in Moscow
1970 The English Parliament refused to ban slavery in the African colonies
1970 The English Parliament refused to ban slavery in the African colonies
THE DISTRICT COURT RECOGNIZED THE DEBTOR'S RIGHT TO INSTALLMENT PAYMENT OF DEBT
The applicant was an individual, in respect of whom a decision to return the funds transferred by the debtor to the bankruptcy estate was previously made. The applicant applied to the court with a demand for an installment plan due to the impossibility of a one-time execution and the presence of a number of financial difficulties.
His arguments boiled down to the significance of the amount, his own long-term treatment with the need to purchase expensive medicines, the presence of dependent children, as well as a spouse with low income.
At the same time, the applicant lived at the registration address, where he owned only a third of the apartment by right of ownership, there were no other real estate. He asked for an installment plan for a period of three years, during which he could manage to pay the debt.
The court of first instance found the arguments to be justified and the installment plan was granted.
Then the appeal overturned the ruling, stating that the debtor's arguments were not grounds for satisfying the claims. What is more, the panel of judges noted that the fact that the applicant did not have funds for a one-time repayment of the claim could not become a reason for a refusal to satisfy it.
Canceling the appeal ruling, the cassation recalled that the task of the court is to respect the interests of the parties when comparing their claims with the obligation to execute the issued judicial acts.
At the same time, the legislation does not name a list of grounds for installments, but indicates the rule for determining them - the presence of circumstances that complicate the execution of a court order. According to the three judges, when considering this issue, it is important to maintain a balance between the need to enforce a judicial act and the establishment of the limits of possible recovery while maintaining the level of existence required by the debtor (decision No. F09-7592 / 20 of May 19, 2021).
