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Supreme Court of Russia resolved the issue of initiating bankruptcy due to deed of assignment

... the Russian Federation took a different position, indicating that despite the fact that the applicant himself did not have the status of a credit institution, he had the right to initiate bankruptcy without a judicial act. The thing is that under an assignment agreement, the assignee accepts the amount of rights that the assignor himself has under the agreement from the assignor. Thus, if the original contract on which the claimant based his claims did not need to prolong the debt in order to file for insolvency, then the same procedure should be applied when transferring ...

Modified: 01.20.2022
bankruptcy , Supreme Court of the Russian Federation , assignment agreement , loan agreement , assignor , assignee
Path: РусБанкрот - СМИ

THE COURT SET OUT THE RIGHT TO PROCEDURAL SUCCESSION OF INSIGNIFICANT DEBT

... considering that there was no economic feasibility in the transaction for the applicant, but the district court did not support this opinion. Initially, there was a controversial debt to the tax inspectorate, but later it was paid off by an individual (assignor under an assignment agreement). After a while, the debt was again assigned to the applicant on a cassation appeal. For the purposes of procedural succession, the man presented an assignment agreement, as well as a receipt, according to which the debt was redeemed....

Modified: 06.29.2021
district court , court , corporate bankruptcy , assignment agreement , assignor , assignee , procedural succession , bankruptcy
Path: РусБанкрот - СМИ
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