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Supreme Court of Russia outlined who has the right to initiate simplified bankruptcy procedures

... instances considered that in the procedure used by the applicant it was illegal, however, the economic board recalled the peculiarities of legal relations. We are talking about an assignment agreement, under which the previous creditor of a citizen (a bank) sold the debt to him to another company. This company, due to the citizen's default on the loan, turned to the latter with a demand to repay the debt. Due to the fact that this did not happen, the assignee applied to the court to declare the individual ...

Supreme Court of Russia will clarify the procedure for initiation of bankruptcy of an individual by bank

... insolvency procedure of an individual was transferred for consideration of the Supreme Court of the Russian Federation. The potential bankrupt expressed his disagreement with the debt presented to him, and the lower authorities supported him. The position of ... ... court of appeal supported the decision of judge. Despite this, the bank made a decision to fight and filed a complaint with the Supreme Court of Russia. The position of the lower courts was that the claims made by the bank were not indisputable, and there ...

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