THE SUPREME COURT WILL CONSIDER THE ISSUE OF VIOLATION OF THE RIGHTS OF BANKRUPT PARTICIPANTS BY THE SETTLEMENT AGREEMENT

In the framework of the bankruptcy case (No. A32-26161/19), the court approved a settlement agreement between the debtor and his creditors. In accordance with the agreement, the debtor undertook to repay the claims of part of the creditors at the expense of cash, and to repay the claims of the remaining part of the creditors — to transfer the object of unfinished construction, the cost of which exceeded the size of the claims. Creditors, in turn, undertook to transfer the difference in price to the debtor.

The courts of the first and cassation instances considered the submitted text of the settlement agreement reasonable and aimed at ensuring the rights of all participants in the bankruptcy case, and therefore discontinued the proceedings.

The debtor's participants filed cassation complaints to the Supreme Court of the Russian Federation and pointed to the transfer of property at an undervalued value in the presence of potential buyers willing to purchase it at a significantly higher cost, the lack of approval of the settlement agreement as a major transaction by its participant, as well as the failure of the court to take measures to consider statements of intent to satisfy creditors' claims.

One of the cassators in the complaint refers to the debtor's lack of the right to part of the disputed real estate.

The Supreme Court of the Russian Federation took into account these arguments and submitted the complaint to the board for consideration, the meeting is scheduled for September 14.