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Supreme Court of Russia specified when the FAS cannot intervene in bankruptcy auctions

... appeal, on the contrary, found that the antimonopoly body did not have such powers. The district court, however, agreed with the first instance, after which the applicant filed a complaint with the Supreme Court of Russia. The Economic Board noted that bankruptcy auctions do not pursue the goal of developing competition. Therefore, the participation of the FAS may become an obstacle to the timely satisfaction of the interests of the debtor's creditors. The legality of holding such auctions is controlled by the ...

Supreme Court of Russia indicated that FAS has no right to control bankruptcy auctions

... the organizer had established unlawful requirements for the participants in the auction. The Court of Appeal overturned the decision and satisfied the application, in support of which it was stated that the FAS did not have the right to control the bankruptcy auction. The Arbitration Court of the Ural District, in turn, supported the first instance, noting that the powers of the antimonopoly authority to consider complaints about violations of the procedure for conducting auctions in the framework of a bankruptcy ...

Is bankruptcy trustee obligated to offer a deal to the third auction participant?

... 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 receivables of the insolvent company. The event was attended by three individuals who offered their price per lot. The citizen who won the auction did not pay the indicated amount, in connection with which the manager turned ...

LAZAREVSKOYE SANATORIUM TO BE PUT UP FOR AUCTION FOR 406 MILLION

... co-borrower, committing to close the loan obligations by the fall of 2022. Together with the sanatorium, Zaur Napso and the Lazana company became participants in the transaction. However, the debt remained, which caused the consequences in the form of bankruptcy. The sanatorium has been operating since 1994. It was designed for 500 visitors, was engaged in the prevention of various diseases, including work with respiratory organs. According to the data for 2022, the organization suffered losses in ...

THE ASSETS OF THE KUZBASS YURMASH WERE PUT UP FOR AUCTION FOR 2.8 BILLION

The property complex of the machine-building plant in Yurga (Kemerovo region) is planned to be sold through an auction at the end of March. The plant's workshops, transport, living quarters, other real estate, and even a greenhouse located in an 80,000 city are for sale. The starting price is 2.84 billion rubles. The Yurginsky Machine-Building Plant stopped operating ...

THE RATING OF THE AUCTION ORGANIZERS FOR THE FIRST HALF OF 2024 HAS BEEN PUBLISHED

The Auction of Russia portal has published a rating of the auction organizers based on the results of the first half of 2024. Auctions are conducted by arbitration managers (AU) or professional organizers (legal entity). The total amount of property sold ...

THE KARAT PLANT IS AGAIN AT AUCTION - FOR 295 MILLION

The Karata cannery in the Kaliningrad region (Pionersky) is being tried to sell at auction once again. The company belongs to the bankrupt company "Service Partner". The beneficiaries of the ... ... products with various additives (oil, tomatoes, vegetables), blanched squid carcasses. But in 2023, the plant was shut down. The bankruptcy of the company began in November 2020. The initiator of the process was Kaliningrad Packaging Plant, which subsequently ...

THE POWERS OF THE FAS IN RELATION TO THE BANKRUPTCY OF TRADES ARE LIMITED

... of antimonopoly authorities in their conduct can negatively affect the possibility of timely and maximum satisfaction of creditors' interests from the sale of property, despite the fact that judicial control is carried out over the conduct of these auctions in the framework of a bankruptcy case. Consequently, the implementation of antimonopoly control over auctions conducted in the framework of bankruptcy cases is not unconditional and in each case requires justification by the antimonopoly authority from the point of view of ...

THE SUPREME COURT WILL SORT OUT THE UNDERESTIMATION OF THE VALUE OF THE SUBJECT OF THE AUCTION

As part of the bankruptcy case (No. A32-28030/19), auctions were held for the sale of the debtor's property. The initial and repeated auctions were declared invalid, and the property was sold to a person with a pre-emptive right at a price 20% lower than the original sale price. The corporation and ...

THE PROPERTY OF THE WELL-KNOWN NETWORK "REPUBLIC" WAS PUT UP FOR AUCTION

As follows from the information posted on the Fedresource, the debtor's material assets - LLC "Republic", pledged by PJSC "Credit Bank of Moscow", are put up for sale. The initial auction price is 21 million rubles. In addition, the debtor's intellectual property objects are also put up for sale, the auction will be held at the end of March at an initial price of 53.5 million rubles. The lot contains trademarks and mobile applications,...

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