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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 legislative subtleties on this issue. As a part of the bankruptcy case, the trustee organized an auction for the sale of the ...

THE ONLY HOUSING OF DEBTOR WAS FIRST SOLD AT AUCTION

... an argument arose about the fate of his two-level five-bedroom apartment. The debtor insisted at the exclusion of it from the bankruptcy estate, referring to the fact that it was the only housing. The lenders, in turn, pointed to the luxuriousness of the ... ... production with reference to the fact that this issue had already been solved earlier. As a result, the real estate was sold at auction. Probably the fate of this case may have a direct impact on a variety of similar situations. Now the debtors, demanding ...

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