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THE SUPREME COURT COMPARED CHALLENGING OF TRANSACTIONS WITH CREDITORS WITH A CLASS ACTION LAWSUIT

... a claim that is no longer interesting to him is contrary to the principle of free disposal of civil rights, and the rights of other persons are not violated, since they have the right to initiate a case to challenge the transaction as well. However, the Supreme Court looked at the situation from a different angle and compared the actions of creditors to challenge the debtor's transaction with a class action lawsuit. Willing to recognize any agreement as an invalid transaction, creditors in bankruptcy primarily act in the interests of the debtor's property, whose bankruptcy estate will be ...

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

... 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 judges referred to the fact of the guarantor's bad faith, but the Supreme Court did not support this position. The highest court stated that the bad faith announced by the colleagues did not apply to legal relations within the framework of the bankruptcy case in any way, since it was directed at a third party - ...

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