Search

THE SUPREME COURT: HEAD OF COMPANY IS NOT OBLIGED TO APPLY FOR BANKRUPTCY AFTER THE FIRST DEBT

The Supreme Court of Russia has recently considered a case on bringing the head and the only participant of the debtor to subsidiary liability. One of the creditors insisted on this, referring to the arisen and not implemented need for the director to file ...

SUPREME COURT: NOTIFICATION OF A GUARANTOR SENT TO THE ADDRESS SPECIFIED IN THE AGREEMENT IS PROPER

... inclusion in the register of creditors' claims, the claim for it was correctly sent by the creditor to the address of the manager. Now the court of the first instance will have to re-consider the application, taking into account the position of the Supreme Court (determination No. 302-ES19-16365 (3) of December 1, 2020).

THE SUPREME COURT HAS CLARIFIED THE CASE ON UNLAWFUL BRINGING A MANAGER TO LIABILITY

... of three instances satisfied the requirement of the state body to bring the manager to administrative liability in the form of a warning. However, the manager himself did not agree with this state of affairs and challenged the decisions made in the Supreme Court of Russia. The Economic Board canceled the judicial acts, obliging to reconsider the claim in connection with the following. As it turned out in the process of considering the dispute, the manager brought to justice was a member of the ...

THE SUPREME COURT OF RUSSIA CLARIFIED THE PRIORITY OF CLAIMS OF SPONSOR IN THE BANKRUPTCY OF PRINCIPAL

The Supreme Court considered the case on the inclusion of the principal's debt to the sponsor in the register of creditors' claims within the framework of the bank guarantee agreement previously concluded between the parties. The creditor was not satisfied ...

THE SUPREME COURT OF RUSSIA OUTLINED THE GROUNDS FOR CANCELLATION OF MORATORIUM ON BANKRUPTCY

... application of the moratorium. What is more, the Highest Court recalled that the payment of interest on loans and borrowings is not a financial sanction and therefore the moratorium cannot exempt from these obligations (resolution of the Plenum of the Supreme Court of the Russian Federation of December 24, 2020 N 44).

THE SUPREME COURT OF RUSSIA SUMMED UP THE RESULTS OF THE PURSUE OF SECONDARY LIABILITY ON THE DEBTOR’S CONTROLLERS

The Supreme Court has recently published a Review of Judicial Practice, which contains, among other things, a number of explanations of bankruptcy legislation. Some of the cases, to which the higher court has paid special attention, have already been previously ...

THE MANAGER WILL NOT BE RESPONSIBLE FOR THE LOSS OF ILLIQUID ACCOUNTS RECEIVABLE

... debt collection from debtors, the latter were in bankruptcy proceedings, and therefore receiving funds from them to repay the existing debt seemed unlikely. The district court upheld the ruling of the first instance, agreeing with its conclusions. The Supreme Court of the Russian Federation referred the complaint of the manager to the board for consideration and drew attention to the arguments about the correctness of the conclusion of the court of appeal on the lack of proof of the set of conditions ...

INDIVIDUAL LENDERS WERE ORDERED TO PAY PERSONAL INCOME TAX WITH INTEREST

On October 24, 2024, the Judicial Board for Economic Disputes of the Supreme Court of the Russian Federation issued a precedent-setting decision concerning the taxation of interest on loans issued by individuals (case No. A40-147367/2023). According to him, the interest received by citizens from such loans should be taxed ...

THE MANAGER MUST PROVE THE MALFUNCTION OF THE FLASH DRIVE WITH THE DOCUMENTS

... application, concluding that the defendant had not fulfilled the obligation to transfer the required documents and material assets to the bankruptcy trustee, which prevented the manager from fulfilling the duties assigned to him by the Bankruptcy Law. The Supreme Court sent the dispute for reconsideration and noted that in the case in question, the defendant objected to the manager's claim and provided evidence that he expressed his willingness to transfer all the documentation he had, however, as a result ...

ANOTHER FORMER TOP MANAGER OF THE SOVETSKY BANK WAS DECLARED BANKRUPT

... bank's own funds were below the required level. The former management was obliged to compensate for losses of 719 million. Top managers of the credit institution tried to appeal the sanction of the Central Bank of the Russian Federation, reaching the Supreme Court. Izyumov was among other representatives of the management, from whom the court jointly recovered 919 million rubles in damages. Together with him, Stanislav Mitrushin (head of the Board of Directors), Andrey Karpov (Chairman of the Management ...

Sorted by relevance | Sort by date