RusBankrot
We know everything about bankruptcy
16/09/2024
Monday
THIS DAY IN HISTORY:
16 September 
1970 "Black Wednesday" of the British pound sterling.
1970 The Montreal Treaty for the Protection of the Earth's Ozone Layer was signed.
1970 Mexico declared independence from Spain.
16 September
1970 "Black Wednesday" of the British pound sterling.
1970 The Montreal Treaty for the Protection of the Earth's Ozone Layer was signed.
1970 Mexico declared independence from Spain.
THE LOSS OF THE COLLATERAL DOES NOT TERMINATE THE SECURITY
As part of the bankruptcy case of the inheritance estate, the bank applied to the court for the inclusion of a collateral claim in the register (case no. A72-1859/21).
The courts of two instances partially satisfied the application, based on the presence of an outstanding amount of debt, and concluded that the requirements regarding the inclusion of claims in the register of creditors' claims in the declared amount are justified and subject to inclusion in the register of creditors' claims of the debtor in the third stage, refusing to establish the collateral status.
The cassation annulled judicial acts, establishing the collateral status, since the principle of elasticity of collateral implies the right of the pledgee to satisfy his claims not only by directly selling the collateral itself, but also at the expense of the monetary equivalent of this collateral (due to the possibility of converting the thing provided as collateral into its value).
In the present case, the court noted, the transaction on the transfer of the mortgaged car to another person was declared invalid by the court, and in the absence of evidence of the death of the mortgaged property, the fact of the foreclosure of the mortgaged property itself does not indicate the termination of the relevant rights of the pledgee (elasticity of the pledge). Thus, instead of a car as collateral, it was replaced with a monetary equivalent, but the pledge did not lose its force.
The courts of two instances partially satisfied the application, based on the presence of an outstanding amount of debt, and concluded that the requirements regarding the inclusion of claims in the register of creditors' claims in the declared amount are justified and subject to inclusion in the register of creditors' claims of the debtor in the third stage, refusing to establish the collateral status.
The cassation annulled judicial acts, establishing the collateral status, since the principle of elasticity of collateral implies the right of the pledgee to satisfy his claims not only by directly selling the collateral itself, but also at the expense of the monetary equivalent of this collateral (due to the possibility of converting the thing provided as collateral into its value).
In the present case, the court noted, the transaction on the transfer of the mortgaged car to another person was declared invalid by the court, and in the absence of evidence of the death of the mortgaged property, the fact of the foreclosure of the mortgaged property itself does not indicate the termination of the relevant rights of the pledgee (elasticity of the pledge). Thus, instead of a car as collateral, it was replaced with a monetary equivalent, but the pledge did not lose its force.
28.05.2024
