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Is bankruptcy trustee obligated to offer a deal to the third auction participant?

A case in which the parties disputed the actions of a bankruptcy trustee was submitted for consideration of the Arbitration Court of the Moscow District. Some of the participants believed that he should had offered the deal to the third auction participant, while others believed that he should had initiated another procedure. The district court dealt with the ...

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

... creditors to attract this company to the organization of the auction. At the same time, the economic board recalled that if the limit of expenses established by law is exceeded, third parties can be involved only after the approval of such a measure by the arbitration court. In this case, the bankruptcy trustee needs to confirm not only the validity of such an attraction, but also the amount of expenses. The applicant, on the other hand, first attracted the third party and after that, he applied to the ...

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