THE SUPREME COURT DIVIDED PASSIVE BEHAVIOR OF CREDITORS AND RESPONSIBILITY OF A MANAGER

The Supreme Court considered the case on the complaint of creditors against the action (inaction) of the bankruptcy manager.  Over a long period of bankruptcy proceedings, the crisis manager did not take measures to terminate the contract that was unfavorable for the debtor and his creditors.  The courts of three instances did not consider it as a problem and the complaints were rejected by them, but not by the Supreme Court of Russia.

 The fact is that the controversial agreement was concluded at the monitoring stage and signed by the head of the debtor.  The essence of the agreement was to transfer the debtor's property to a third party for safekeeping.  At the same time, as a payment for storage, the counterparty received the right to use the property, as well as the right to lease it to third parties.

The claims of the bankruptcy creditors boiled down to the fact that the safekeeping agreement on the agreed terms was not a good deal, and the manager should have taken measures to withdraw from it.

 A letter from one of the bankruptcy creditors of the property transferred for storage was submitted to the case materials.  He not was not against the contract, but stipulated his vision of its execution.  Referring to this document, as well as to the general inaction of creditors in relation to the contract, the courts concluded that there were no grounds for satisfying the claims.

 However, the economic board came to a different conclusion.  The highest court indicated that the task of the manager in the bankruptcy proceedings was to establish the most productive way of disposing of the debtor's property and settlements with creditors.  What is more, the crisis manager is personally responsible for his actions and is obliged to independently take measures in the interests of the debtor and his creditors.  At the same time, the passive behavior of the creditors themselves does not matter (definition No. 304-ES16-17267 (2, 3) of January 21, 2021).