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Supreme Court of the Russian Federation clarified what cannot be considered compensatory financing

... companies by the actions of the persons controlling it. The court regarded this behaviour as a form of financing the debtor, additionally noting that the repayment of the debt and the termination of the insolvency case created the appearance of the debtor's financial stability among the creditors. However, the Supreme Court of the Russian Federation expressed disagreement with the indicated arguments. The Economic Board noted that the bankruptcy legislation does not contain provisions according to which the affiliation of the debtor and the creditor is an independent ...

Supreme Court of Russia indicated criteria for challenging the debtor's transaction

... judges noted that such a decrease in value should have alerted the buyer, which indirectly may indicate his awareness of the debtor's desire to withdraw liquid property. However, the arguments of the court of first instance and the court of appeal were ... ... of the contract, in the opinion of the servants of Themis and taking into account other circumstances, was not decisive. The Supreme Court of the Russian Federation came to the same conclusion, pointing out that the criterion for recognizing a transaction ...

Supreme Court of Russia put an end to the case with the omission of the procedural time limit

... challenge the debt to the contractor, referring to the significant difference between the size of the bankruptcy estate of the debtor and all the claims of creditors. The court of appeal and the district court refused to consider the tax authorities’ complaint,... ... was missed and the possibility of obtaining information about the court case and the decision from open sources. However, the Supreme Court of the Russian Federation demanded to reconsider the issue, pointing out that at the time of the decision, as well ...

Supreme Court of Russia indicated what the courts should take into account when including debts in the register of creditors’ claims

... the validity of collecting debts from the guarantor in court, no objections were received from the latter. The combination of these circumstances led the creditor to the idea that the debt was formed intentionally, in order to gain control over the debtor's bankruptcy procedure. The Supreme Court of the Russian Federation agreed with such an opinion, pointing out that, when considering the issue of including a debt in the register of creditors’ claims, the courts should take into account the circumstances of its occurrence in order ...

Supreme Court of Russia resolved the issue of downgrading the claims of an affiliated creditor

... creditors), without having any grounds for this, which can usually be observed between two companies. The fact that the creditor preferred an affiliated company to the detriment of the interests of third parties did not affect the qualification of the debtor's financing as compensatory, and therefore such a claim should have been subordinated in the register. The Supreme Court of the Russian Federation canceled the decisions of the court of appeal and the district court and upheld the act of the court of first instance ( decision No. 308-ES18-3917 (3, 4) dated January 27, 2022 in case № A20-3223 / 2017).

Supreme Court of Russia indicated what should not be done when changing a bankruptcy trustee

The highest court considered the case on the complaint of two creditors of the debtor, who were dissatisfied with the decisions of the lower courts. The question concerned the change of the bankruptcy trustee ... ... considered in the district court, the meeting had not taken place, and the panel of judges made the creditors guilty of this. The Supreme Court of the Russian Federation did not agree with this formulation of the issue. The Economic Board pointed out that ...

Supreme Court of Russia puts an end to the case on the subordination of the restitution claim

... for the inclusion of a restitution claim in the register of creditors’ claims, filed by one of the creditors, were subordinated by the first instance, but the court of appeal and the district court cancelled the order. Having considered the issue, the Supreme Court of the Russian Federation supported the position of the court of first instance. There was a dispute between the ‘Rial’ (debtor) and ‘Rosalco’ (creditor) companies. The latter provided the debtor with funding subsequently recognized by the court as compensatory funding, for which Rosalko received a restitution right to claim. With this right the company applied to the court ...

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