THE SUPREME COURT OF RUSSIA WILL CONSIDER A CASE OVER THE CONTESTATION OF AN ASSIGNMENT AGREEMENT

In December, the Supreme Court of Russia is to consider the case over the contestation of an assignment agreement concluded between the bank and the debtor just before the bankruptcy of the latter. The bankruptcy administrator of the bankrupt company insists that the concluded agreement is invalid on grounds of suspicion.

He believes that the bank had no intention to fulfill the agreement obligations, and the assignment consideration, declared under it, is unequal.

The courts of three instances accepted the manager's arguments, and the agreement was declared invalid.

The judges assumed that the agreement was signed less than a year before the assignee's bankruptcy. An equivalent assignment consideration in favor of him was not made and the creditors of the latter suffered significant harm caused by such actions.

Opposing the manager's arguments, the bank indicated that the proposal to conclude the assignment agreement came from the beneficiary of the first debtor of the transaction and the assignee. In addition, the cost of the claim was in line with market prices for similar transactions, and the bank was interested in getting rid of the debt by receiving monetary compensation for it. What is more, the assignor noted that at the time of the conclusion of the agreement, the assignee company had no signs of insolvency.

Having considered all the circumstances, the judge of the Supreme Court Samuylov made a decision to send the case for the economic board consideration. The session will be held on December 17 (definition No. 306-ES20-14567 of November 25, 2020).