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THE SUPREME COURT OF RUSSIA DID NOT ALLOW THE WITHDRAWAL OF THE DEBTOR'S ASSETS IN BANKRUPTCY

... the manager found the property, and decided to challenge the deal, but was not supported by the judges. As for the highest court, its board, having examined the case materials in detail, came to the opposite conclusion. According to the judges of the Supreme Court, the parties to the concluded transactions were interconnected and could well pursue a common interest, in particular, the withdrawal of the debtor's assets just before the bankruptcy. Having established a connection between the participants in legal relations, and also recalling that the price of real estate was still different from the market price, the Supreme Court of Russia canceled the ...

Supreme Court of Russia ordered to check what will be left to a retiree after the debt recovery

The Supreme Court of the Russian Federation considered the complaint of a retiree from Krasnoyarsk, who did not have enough money to live on after a monthly settlement with creditors. The amount of the debt was about 500 thousand rubles, and the debtor himself was a retiree and a disabled person. When considering the case, the Supreme Court of Russia pointed out the importance of examining the circumstances and sources of income of the debtor separately in each case. This must be done in order to maintain a balance of interests between the pensioner and his creditors. The situation ...

The Supreme Court of Russia canceled the conclusion of amicable agreement due to the negligence of judges

... Russia considered the case on the complaint of the creditor (bank), which challenged the conclusion of an amicable agreement in the proceedings related to the insolvency case. The lower courts did not see any violations of the applicant's rights, but the Supreme Court sided with the bank. The dispute arose against the background of the bankruptcy of an individual. The debtor citizen was a member of the company with 100% of the shares, which was sold by him to a third party. The bankruptcy trustee challenged the deal and succeeded in declaring it invalid, but before the entry of the judicial act into the force, the ...

THE SUPREME COURT OF RUSSIA CLARIFIED THE LIMITS OF MORATORIUM ON INITIATION OF BANKRUPTCY PROCEEDINGS

... subsequent challenges of the claim in the appeal and district courts, the position was found to be incorrect, and the submitted application was returned to the creditor. The reason was the action of the moratorium on bankruptcy in relation to the debtor. The Supreme Court found no reason for the application of the moratorium, having indicated that it was impossible in the case under consideration. The debtor company, in support of its position, referred to the presence of retail trade among the additional ...

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 ...

THE SUPREME COURT OF RUSSIA ADMITTED OFFSETTING OF CLAIMS UNDER INDEPENDENT CONTRACTOR AGREEMENT IN BANKRUPTCY

... bankruptcy trustee. He demanded that the transaction must be invalidated by offsetting similar claims, and the parties to the agreement were the contractor (bankrupt company) and the customer. The courts of three instances sided with the applicant, but the Supreme Court of Russia rejected his claim him. The essence of the dispute arose as a result of the parties' performance of a contract, under which the debtor undertook to perform a certain amount of contract work. Under the terms of the agreement, the customer paid the contractor an advance. The contractor received the funds, but fulfilled his duties only by a third. Having considered a part of the ...

THE COURT ASSESSED THE POSSIBILITY FOR THE DEBTOR’S DEPOSIT CONTESTATION

... because it was executed during the period of suspicion, as well as because of the absence of any counter-proposal for the bankrupt debtor. However, the Economics Board disagreed with this opinion, which indicated the following. For the purpose of comparing ... ... inequality. The deposit legally remained with the assignor, since the assignee had violated the terms of the contract. Thus, the Supreme Court of the Russian Federation declared the argument that there was no counter-provision under the contract and the fact ...

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