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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 STATUS OF A SECURED CREDITOR AND THE RIGHTS OF SHAREHOLDERS: FEATURES OF REQUIREMENTS ACCOUNTING
The entrepreneur applied to the court for the inclusion of a pledge claim in the debtor's register (case no. A32-54577/23).
The court of first instance included the claim in the register, but refused to satisfy the entrepreneur's application for recognition of the claims secured by a pledge of the debtor's property, based on the established circumstances in a court decision in another case, where it was recognized that the entrepreneur had no right to pledge disputed real estate.
The Court of Appeal disagreed with the conclusions of the court of first instance. He concluded that the commissioned premises of the apartment building retain the encumbrance in the form of collateral. After analyzing the extracts from the register of rights, the court found that the encumbrance in the form of collateral was registered in favor of the entrepreneur in respect of seventeen apartments. There is no evidence of the termination of the right of pledge. Since the obligation secured by the pledge has not been terminated, the grounds for termination of the pledge have not been established, the subject of the pledge has not been lost, and the right of the pledgee has arisen in accordance with the procedure established by law, the court concluded that the entrepreneur's claims are subject to recognition as secured by the pledge in respect of seventeen apartments.
The cassation sent the dispute for reconsideration, pointing out that the courts had not investigated the application of the rules on bankruptcy of the developer, the procedure and form of accounting for the entrepreneur's claim had not received a proper assessment. The factual circumstances of the debtor's bankruptcy case were not investigated, and the register of creditors' claims of the debtor was not analyzed for the presence of claims of creditors – individuals based on legal relations of equity participation in construction.
In addition, at the time of the dispute, not all citizens whose rights are affected by the adopted judicial act had submitted their claims to the debtor and were not involved in a separate dispute. The circumstances essential for the proper resolution of the dispute were not established by the courts.
Consequently, the conclusion that there are grounds for including the entrepreneur's claims in the register of the third stage as secured by collateral for seventeen apartments is premature, made without proper collection and examination of evidence. The Court of cassation also noted the need to consider the application of the rules on bankruptcy of the developer in relation to the debtor, to combine this separate dispute with a dispute over the application of the entrepreneur for foreclosure on the mortgaged property.
Photo: Freepik
The court of first instance included the claim in the register, but refused to satisfy the entrepreneur's application for recognition of the claims secured by a pledge of the debtor's property, based on the established circumstances in a court decision in another case, where it was recognized that the entrepreneur had no right to pledge disputed real estate.
The Court of Appeal disagreed with the conclusions of the court of first instance. He concluded that the commissioned premises of the apartment building retain the encumbrance in the form of collateral. After analyzing the extracts from the register of rights, the court found that the encumbrance in the form of collateral was registered in favor of the entrepreneur in respect of seventeen apartments. There is no evidence of the termination of the right of pledge. Since the obligation secured by the pledge has not been terminated, the grounds for termination of the pledge have not been established, the subject of the pledge has not been lost, and the right of the pledgee has arisen in accordance with the procedure established by law, the court concluded that the entrepreneur's claims are subject to recognition as secured by the pledge in respect of seventeen apartments.
The cassation sent the dispute for reconsideration, pointing out that the courts had not investigated the application of the rules on bankruptcy of the developer, the procedure and form of accounting for the entrepreneur's claim had not received a proper assessment. The factual circumstances of the debtor's bankruptcy case were not investigated, and the register of creditors' claims of the debtor was not analyzed for the presence of claims of creditors – individuals based on legal relations of equity participation in construction.
In addition, at the time of the dispute, not all citizens whose rights are affected by the adopted judicial act had submitted their claims to the debtor and were not involved in a separate dispute. The circumstances essential for the proper resolution of the dispute were not established by the courts.
Consequently, the conclusion that there are grounds for including the entrepreneur's claims in the register of the third stage as secured by collateral for seventeen apartments is premature, made without proper collection and examination of evidence. The Court of cassation also noted the need to consider the application of the rules on bankruptcy of the developer in relation to the debtor, to combine this separate dispute with a dispute over the application of the entrepreneur for foreclosure on the mortgaged property.
Photo: Freepik
13.10.2025
