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THE SUPREME COURT OF RUSSIA CLARIFIED WHEN BANKRUPTCY TRUSTEE IS NOT LATE TO DEMAND A PAYMENT OF REMUNERATION

... from him. Otherwise, the second trustee will receive unjust enrichment at the expense of the applicant, who also has the right to count on the payment of remuneration (determination No. 305-ES19-21725 of July 15, 2021). Tags: Supreme Court of Russia, court ruling, bankruptcy trustee, pay

SUPREME COURT OF RUSSIA DID NOT ALLOW THE ASSETS OF THE DEBTOR TO BE WITHDRAWN BY CONCLUDING AN AGENCY AGREEMENT

Within the framework of the insolvency case, the bankruptcy trustee of the debtor tried to challenge the agency agreement concluded between the potential bankrupt and a third party. The trustee was confused by the fact that the agreement was signed immediately after the initiation of the principal's insolvency case. The opinions of the courts on this issue were different, but the Supreme Court of Russia put an end to it. When considering the application in the court of first instance, the position...

THE SUPREME COURT OF RUSSIA CLARIFIED THE FEATURES OF BRINGING A HEAD OF COMPANY TO SUBSIDIARY LIABILITY

The bankruptcy trustee of the debtor demanded in court that the former head of the bankrupt company should be brought to subsidiary liability. The reason was the failure to file a bankruptcy petition in court in a situation of growing debts. The lower courts agreed with this, pointing out that the director had unreasonably omitted to act when the company's financial burden was growing. However, the Supreme Court did not agree with this interpretation of the situation. The Economic Board recalled...

THE SUPREME COURT OF RUSSIA EXPLAINED THE PROCEDURE FOR INVOLVING THIRD PARTIES TO HELP THE BANKRUPTCY TRUSTEE

The Supreme Court considered the complaint of one of the creditors, who remained dissatisfied with the rulings issued by the lower courts. The issue concerned the claim of the trustee for payment of remuneration to the organizer of the auction in excess of the established limit. The courts considered this measure to be correct, referring to the decision taken at the meeting of creditors, as well as to the market value of the organizer's services and the complex specifics of the lots sold. However...

THE SUPREME COURT OF RUSSIA: THE DEBTOR HAS A RIGHT TO BANKRUPTCY EVEN IF HE IS GUILTY OF CRIME

... an application for insolvency. The question of whether the debtor can be relieved of his existing financial obligations should be resolved in the process of considering a bankruptcy case, but not at the stage of making a decision on its initiation (court ruling of May 18, 2021 No. 301-ES20-19192).

THE SUPREME COURT OF RUSSIA CLARIFIED THE CRITERIA OF BAD FAITH OF GUARANTEE GIVER IN BANKRUPTCY

The Judicial Board for Economic Disputes of the Supreme Court of the Russian Federation considered the case on the bank's application for the inclusion of its claim in the register of the creditors’ claims. Financial claims against the debtor were based on a bank guarantee agreement, under which the applicant paid the amount established by the agreement instead of the debtor. The lower courts satisfied the claim, but downgraded its priority due to the creditor's compulsory performance of his obligations...

THE COURT: PARTICIPATION IN THE CASE AS A THIRD PARTY IS NOT A GROUND FOR DOWNGRADING THE CLAIMS IN BANKRUPTCY

The Arbitration Court of the Moscow District considered the complaint of the creditor, the claims of which were downgraded by the lower courts due to affiliation with the debtor. As the basis for this, the fact of participation of the debtor and the creditor in another case as third parties was named. However, the district court did not agree with this interpretation of the law. The application for inclusion in the register of creditors’ claims was based on the lease legal agreement. The debtor...

THE SUPREME COURT OF RUSSIA: TERMINATION OF BANKRUPTCY CASE IS NOT A GROUND FOR A DENIAL OF A WRIT OF EXECUTION ISSUANCE

The Economic Board of the Supreme Court of Russia considered the claim of the debtor's creditor to issue him a writ of execution on the basis of a ruling on the inclusion of debt in the register of creditors’ claims. The claim was filed after the termination of the insolvency proceedings due to insufficient funds to carry out the procedure. The judges of three instances rejected the claim, but the Supreme Court of Russia considered this position to be incorrect. Having refused to issue a writ of...

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