THE SUPREME COURT OF RUSSIA DID NOT ALLOW FOR THE SECOND BANKRUPTCY OF DEBTOR UNDER THE SAME DEBT COMMITMENT

The Supreme Court of the Russian Federation considered the case at the request of the Bank on the recognition of a debtor insolvent for a loan agreement. The judges in the appeal instance and in the district court had satisfied the claim, but the Supreme Court of Russia pointed to the mistakes of colleagues and canceled the ruling. The fact was that a credit organization had already received a settlement of debt under the contract in the framework of the first bankruptcy case of a woman.

Then the main debt size was included in register of creditors’ claims, as well as interest and penalties. Bankruptcy ended with the repayment of all claims of creditors.

After that, the bank made a decision to drive the debtor woman to bankruptcy again, stating the recovery of moratorial interest.

The debt was calculated for the period from the date of the introduction of the debt restructuring procedure at the time of the termination of the first insolvency case. The presence of a second bankruptcy under the same debt commitment did not bother the judges of the lower instances, and they satisfied the claims, but the Supreme Court expressed disagreement with such an opinion

The Economic Board noted that the law does not allow the accrual of moratorial interest in the period chosen by the applicant, which deprives the last possibility of their recovery. In addition, the moratorial interest accrued in the framework of the first bankruptcy case themselves do not allow the creditor to initiate a new bankruptcy process and are not taken into account when determining signs of insolvency (decision № 305-ES21-5418 dated August 23, 2021).