RusBankrot
We know everything about bankruptcy
08/09/2024
Sunday
THIS DAY IN HISTORY:
8 September 
1941 The blockade of Leningrad began.
1429 The storming of Paris by the troops of Jeanne D'Arc.
1380 The Tatar-Mongol troops were defeated by the Russian troops in the Battle of Kulikovo.
8 September
1941 The blockade of Leningrad began.
1429 The storming of Paris by the troops of Jeanne D'Arc.
1380 The Tatar-Mongol troops were defeated by the Russian troops in the Battle of Kulikovo.
THE DEBTOR'S PROPERTY SHOULD STILL BE TRIED TO SELL
In the framework of the bankruptcy case of a citizen (No. A51-11607/20), the manager submitted an application to complete the procedure for the sale of property and release the debtor from obligations.
Satisfying the application, the courts of two instances were guided by the fact that the procedure for the sale of a citizen's property in relation to the debtor should be completed, since there is no information in the case about the debtor's availability of funds to repay accounts payable and the need for any additional measures within the framework of the procedure for the sale of a citizen's property to repay creditors' claims.
Rejecting the creditor's arguments that the manager had not exhausted the possibilities to satisfy the claims of the collateral creditor at the expense of the debtor's bankruptcy estate, in particular, the sale of collateral property by putting it up for re-auction in the form of a public offer had not been continued, the court of appeal pointed out that the creditor had not exercised his rights as a collateral creditor to retain the pledged property or the right to amend the current Regulation on the sale, while also taking into account the absence of applications from potential buyers and the ineffectiveness of the auction, the auction in the form of a public offer cannot be held repeatedly, which is not provided for by bankruptcy legislation and will entail an unjustified delay in the bankruptcy procedure of a citizen.
The Court of Cassation sent the dispute for a new consideration and noted that the courts limited themselves to referring only to the statement as such that the debtor does not have property (money), due to which it is possible to replenish the bankruptcy estate and settlements with creditors.
At the same time, as follows from the manager's report, the main amount of accounts payable included in the register is secured by the creditor's claims; the collateral included in the bankruptcy estate (land and residential building) is the only asset available to the debtor, due to the sale of which it is possible to repay the claims; the auction for the sale of the collateral is declared invalid due to the lack of applications for participation in the first and repeated auctions, as well as auctions in the form of a public offer.
The current legislation does not exclude the possibility of further sale of the pledged property if the first and repeated auctions are declared invalid, and the sale of the property through a public offer has not been carried out.
Thus, the manager must be provided with evidence of the impossibility of selling the property, in the absence of which the completion of the property sale procedure (with the actual deprivation of the creditor's collateral rights in respect of the debtor's real estate) on the basis of the Bankruptcy Law is unacceptable.
Consequently, the manager's position on the inexpediency of initiating repeated public auctions for the sale of collateral due to the ineffectiveness of the first bidding procedures is directed against the interests of the collateral creditor and does not meet the objectives of the Bankruptcy Law.
Satisfying the application, the courts of two instances were guided by the fact that the procedure for the sale of a citizen's property in relation to the debtor should be completed, since there is no information in the case about the debtor's availability of funds to repay accounts payable and the need for any additional measures within the framework of the procedure for the sale of a citizen's property to repay creditors' claims.
Rejecting the creditor's arguments that the manager had not exhausted the possibilities to satisfy the claims of the collateral creditor at the expense of the debtor's bankruptcy estate, in particular, the sale of collateral property by putting it up for re-auction in the form of a public offer had not been continued, the court of appeal pointed out that the creditor had not exercised his rights as a collateral creditor to retain the pledged property or the right to amend the current Regulation on the sale, while also taking into account the absence of applications from potential buyers and the ineffectiveness of the auction, the auction in the form of a public offer cannot be held repeatedly, which is not provided for by bankruptcy legislation and will entail an unjustified delay in the bankruptcy procedure of a citizen.
The Court of Cassation sent the dispute for a new consideration and noted that the courts limited themselves to referring only to the statement as such that the debtor does not have property (money), due to which it is possible to replenish the bankruptcy estate and settlements with creditors.
At the same time, as follows from the manager's report, the main amount of accounts payable included in the register is secured by the creditor's claims; the collateral included in the bankruptcy estate (land and residential building) is the only asset available to the debtor, due to the sale of which it is possible to repay the claims; the auction for the sale of the collateral is declared invalid due to the lack of applications for participation in the first and repeated auctions, as well as auctions in the form of a public offer.
The current legislation does not exclude the possibility of further sale of the pledged property if the first and repeated auctions are declared invalid, and the sale of the property through a public offer has not been carried out.
Thus, the manager must be provided with evidence of the impossibility of selling the property, in the absence of which the completion of the property sale procedure (with the actual deprivation of the creditor's collateral rights in respect of the debtor's real estate) on the basis of the Bankruptcy Law is unacceptable.
Consequently, the manager's position on the inexpediency of initiating repeated public auctions for the sale of collateral due to the ineffectiveness of the first bidding procedures is directed against the interests of the collateral creditor and does not meet the objectives of the Bankruptcy Law.
17.07.2024
