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The Supreme Court of Russia considered the issue of the distribution of moratorium interest
The Supreme Court of Russia considered the issue of the distribution of moratorium interest
The highest court considered the case on the complaint of one of the creditors of the debtor (an individual). The applicant was dissatisfied with the ruling issued by the district court, which established the procedure for the distribution of the moratorium interest of the secured creditor. The Supreme Court of Russia considered the applicant's arguments convincing and canceled the contested judicial act.
The question concerned the procedure for establishing, as well as distribution of the moratorium interest of the pledged creditor of the debtor - the bank.
The courts of first and appeal instances considered it possible to establish that the disputed interest is subject to accrual only on the principal amount and can be paid only after all the basic claims of the debtor's creditors have been satisfied, provided that the funds were sufficient for this.
However, The District Court did not agree with colleagues. Its board established a separate procedure, which included the bank's preemptive right to receive moratorium interest through the sale of the debtor's collateral.
Considering the circumstances of the case, the highest court considered the position of the district court to be erroneous, noting that the legal nature of the moratorium interest did not allow them to be satisfied until the calculation of the main claims of other creditors.
As a result, the ruling of the district court was canceled, and the judicial acts of the first and appeal instances were upheld (ruling
in case ¹. 303-ES20-10154 (2) of 23 August 2021).
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