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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 ...

89 RUBLES OF LOSSES WERE COLLECTED FROM THE MANAGER

89 rubles - exactly this amount was collected by the courts of three instances following the consideration of the IP's claim to the arbitration manager (case no. A11-10569/19). In the framework of the bankruptcy case of the Leader Management Company LLC, auctions were held at which the debtor's claim rights to 2,420 debtors-individuals were realized. The sole proprietor with whom the purchase and sale agreement was concluded was recognized as the winner of the auction. In the process of collecting acquired ...

What should bankruptcy trustee do after the sale of collateral

... cover the costs of paying land and property taxes on the sold item. This must be done before starting the settlement procedure with collateral and other creditors. We talked about the case in detail here . When selling the subject of collateral at an auction, the funds received from the sale should be used to pay the current tax payments, before settling with creditors. This conclusion was made by the Supreme Court of the Russian Federation, considering a case in which the debtor continued to operate ...

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

The Supreme Court considered the complaint of one of the creditors, who remained dissatisfied with the rulings issued by the lower courts. The issue concerned the claim of the trustee for payment of remuneration to the organizer of the auction in excess of the established limit. The courts considered this measure to be correct, referring to the decision taken at the meeting of creditors, as well as to the market value of the organizer's services and the complex specifics of the lots ...

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