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

... 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 insolvent. The courts of three instances consistently refused to accept the application, justifying their position by the absence of the creditor's outstanding debt. However, the assignees turned ...

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

... and they stopped the proceedings. However, the Supreme Court of 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 ...

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

... lack of proof of the economic feasibility of acquiring the debt. At the time of consideration of the bankruptcy petition, the bankruptcy case was at the stage of bringing the persons controlling the debtor to subsidiary liability. At the same time, it ... ... already been established that the debtor himself had no property. In addition, the courts doubted the conscientiousness of the assignee, considering that having entered the case, he could pose all sorts of obstacles, and rejected the claims. However, the ...

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