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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 ...

THE SUPREME COURT HAS UPDATED THE EXPLANATIONS ON THE PAYMENT OF STATE DUTIES

The September increase in the rates of state duties caused the Supreme Court to review a number of legal clarifications. The Plenum of the Supreme Court of the Russian Federation has updated the resolution, in which it noted the loss of relevance of some of the previously adopted acts. The changes, in particular,...

THE SUPREME COURT WILL LOOK INTO THE REMUNERATION OF THE MANAGER WHEN SELLING THE COLLATERAL

... instances partially satisfied the application, setting a percentage of the remuneration in the amount of 4.5% of the amount of satisfied claims of the collateral creditor. The debtor's creditor did not agree with this approach and filed a complaint with the Supreme Court, pointing out that the services for the sale of the collateral were provided not by the manager, but by the organizer of the auction, who received a significant reward. In such circumstances, the manager is not entitled to claim the maximum ...

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 SUPREME COURT PROPOSED TO ALLOW THE DEFENDANTS TO LEAVE FOR A SPECIAL MILITARY OPERATION

The Supreme Court of the Russian Federation proposed to make it possible to suspend the criminal case of participants in a Special Military Operation at the trial stage. Recall that now it is possible to do this exclusively at the investigation stage. The ...

THE SUBSIDIARY OF THE HEAD OF THE COUNTERPARTY COMPANY WILL BE CHECKED BY THE SUPREME COURT

... all, as a result, the bank received only a share in the "Customs Card", estimated at 142 million, writing off about 2.3 billion of debt from its balance sheet. Andrey Barinov disagreed with the court verdicts and filed a complaint with the Supreme Court. In his opinion, even a loss of 192 million could not be a reason for the bank's bankruptcy. In addition, the former head pointed out, he did not receive any financial benefit from the transactions. Now his complaint is to be considered ...

THE SUPREME COURT SUPPORTED THE PLAINTIFF IN THE DISPUTE OVER THE SUBSIDY OUTSIDE BANKRUPTCY

The Economic Board (Judicial Board for Economic Disputes) of the Supreme Court of the Russian Federation considered Su Kim's complaint on July 2, 2024. The woman filed a lawsuit, which she conducted for several years with the Master Plus company, and then directly with its founder and head Konstantin Lee (case no. ...

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 ...

THE SUPREME COURT RECOGNIZED INTEREST-FREE LOANS AS COMPENSATORY FINANCING

On June 26, 2024, the Judicial Board for Economic Disputes (SCES) of the Supreme Court of the Russian Federation issued a Ruling on the complaint filed by the tax authorities and one of the creditors of the Khakassetremont company in its bankruptcy case (No. A74-5439/2020). The applicants asked to cancel the cassation ruling ...

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 ...

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