RusBankrot
We know everything about bankruptcy
05/12/2025
Friday
THIS DAY IN HISTORY:
5 December 
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
5 December
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
THE PRIORITY OF HOUSING PRESERVATION OVER THE IMPLEMENTATION OF COLLATERAL
The debtor applied to the court for approval of a local debt restructuring plan to preserve the only housing (case no. A40-100429/24).
In granting the application, the court of first instance took into account that the debtor had submitted a debt restructuring plan to the bank, which provides for conditions on the term of its execution, full repayment of the collateral creditor's claim, and payment of interest to him. Confirming the possibility to implement the proposed plan, the debtor provided evidence of income received by him and his spouse.
The appeal refused to satisfy the claim and proceeded from the fact that the implementation of any rehabilitation plan in a bankruptcy case should not worsen the situation of creditors who objected to its approval, as if the property were sold in a liquidation procedure (the principle of rehabilitation parity), as well as as if the obligations under the loan agreement the contract was executed properly. It was noted that the repayment schedule of credit obligations was violated, and therefore the conditions for the possibility of approving a local restructuring plan were not met.
The cassation upheld the ruling of the first instance, noting that the bank's rights are not currently being violated, even after the bankruptcy case is completed, its claims will not be terminated. The Court of first instance reviewed the plan submitted by the debtor and his spouse, and concluded that such a plan was feasible and maintained a balance of interests for both the bank and the citizen and his family members.
By itself, a violation of the terms of performance of credit obligations does not entail a refusal to approve the plan, since such a violation is caused by the resolution of a dispute in court, and the availability of an opportunity to fulfill obligations for the period of delay has been established by the court.
Photo: Freepik
In granting the application, the court of first instance took into account that the debtor had submitted a debt restructuring plan to the bank, which provides for conditions on the term of its execution, full repayment of the collateral creditor's claim, and payment of interest to him. Confirming the possibility to implement the proposed plan, the debtor provided evidence of income received by him and his spouse.
The appeal refused to satisfy the claim and proceeded from the fact that the implementation of any rehabilitation plan in a bankruptcy case should not worsen the situation of creditors who objected to its approval, as if the property were sold in a liquidation procedure (the principle of rehabilitation parity), as well as as if the obligations under the loan agreement the contract was executed properly. It was noted that the repayment schedule of credit obligations was violated, and therefore the conditions for the possibility of approving a local restructuring plan were not met.
The cassation upheld the ruling of the first instance, noting that the bank's rights are not currently being violated, even after the bankruptcy case is completed, its claims will not be terminated. The Court of first instance reviewed the plan submitted by the debtor and his spouse, and concluded that such a plan was feasible and maintained a balance of interests for both the bank and the citizen and his family members.
By itself, a violation of the terms of performance of credit obligations does not entail a refusal to approve the plan, since such a violation is caused by the resolution of a dispute in court, and the availability of an opportunity to fulfill obligations for the period of delay has been established by the court.
Photo: Freepik
17.07.2025
