THE MANAGER UNDERSTATED THE VALUE OF THE DEBTOR'S PROPERTY AND WAS RESPONSIBLE FOR THE LOSSES

In the framework of the bankruptcy case No. A46-7683/16, the debtor and his spouse applied to the court for recovery of damages from the arbitration manager. In the joint ownership of the spouses there was real estate sold by the manager at auction.

Justifying their application, the spouses pointed out that, following the completion of the debtor's bankruptcy procedure, all property owned by the debtor and jointly acquired by the spouses was sold, which, with a debt of 3,500,000 rubles and the loss of property worth more than 20,000,000, indicates its illegal sale carried out in the absence of sufficient legal grounds for this.

The court of first instance refused to satisfy the claim. The appeal overturned the ruling, satisfying the application in part, which the district court agreed with.

The courts concluded that the unfair and unreasonable actions (inaction) of the arbitration manager consist in underestimating the initial price of the debtor's real estate objects sold at auction, determined without taking into account the information known to him and without conducting a proper assessment.

Photo: Freepik