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THE PLEDGE DOES NOT HARM CHILDREN

The manager appealed to the court with an application to challenge the real estate pledge agreement (case no. A45-33417/21). The court of first instance refused to satisfy the application, without identifying the circumstances that adversely affected the rights of the debtor's minor children as a result of the conclusion of the disputed ...

THE CASSATION RESOLVED THE DIFFERENCES REGARDING THE SENIORITY OF THE PLEDGES OF GOODS IN CIRCULATION

... repay the claims of the junior collateral creditor. The courts resolved the differences in favor of the second creditor, establishing the proportionality of the distribution of proceeds, due to the fact that, in their opinion, the crystallization of the pledge of goods in circulation levels the seniority of the pledges. The district Court sent the dispute for a new consideration, noting that if there are several collateral creditors who are the original and subsequent mortgagees on the subject of collateral,...

THE SUPREME COURT WILL LOOK INTO THE REMUNERATION OF THE MANAGER WHEN SELLING THE COLLATERAL

In the framework of the debtor's bankruptcy case (No. A56-137087/19), the manager appealed to the court with an application to establish a percentage fee in connection with the sale of the collateral. The courts of three instances partially satisfied the application, setting a percentage ...

THE DEBTOR'S TAX OBLIGATIONS ARE PAID BY SELLING THE COLLATERAL AFTER THE CREDITOR RECEIVES THE BENEFIT

... repaid from the moment the mortgaged creditor began to benefit from its status. This can happen both at the very beginning of the bankruptcy case and at the observation stage, the Supreme Court determined. Such approaches were described by the judicial board ... ... to the collateral creditor. • If the bank's unfair behavior is not proven, as well as the loss of the economic meaning of the pledge, property taxes and penalties are repaid from the proceeds of the pledged property in accordance with paragraph 6 of Article ...

THE SPECIFICS OF CHALLENGING THE PREFERENTIAL SATISFACTION OF CLAIMS WITH THE SENIORITY OF COLLATERAL

As part of the bankruptcy case of a citizen, the bank appealed to the court with an application for the recovery of funds from the Rosvoenipoteka to the bankruptcy estate of the debtor with subsequent redistribution in favor of the pledgee (case No. A56-90497/21). The courts of two instances satisfied the application, guided by the fact that the collateral (apartment) was sold at auction, and the proceeds were used to repay the claims of the subsequent creditor (Rosvoenipothek)....

THE LOSS OF THE COLLATERAL DOES NOT TERMINATE THE SECURITY

As part of the bankruptcy case of the inheritance estate, the bank applied to the court for the inclusion of a collateral claim in the register ... ... judicial acts, establishing the collateral status, since the principle of elasticity of collateral implies the right of the pledgee to satisfy his claims not only by directly selling the collateral itself, but also at the expense of the monetary equivalent ...

UNJUSTIFIED CONTESTING OF TRANSACTIONS SHOULD NOT VIOLATE THE SENIORITY OF COLLATERAL

The creditor in court demanded to include in the relevant register its claim arising from loan agreements as secured by a pledge of residential premises. At the same time, the arbitration manager appealed to the court with a counter-statement challenging these transactions (loan and pledge agreements) and applying the consequences of invalidity to them. The position of ...

THE DEBTOR MAY REDUCE THE AMOUNT OF OWNERSHIP. IT WON'T AFFECT THE BAIL

In the framework of the bankruptcy case of a citizen (No. A13-10826/22), the company applied to the court with an application to establish a claim as secured by a pledge of the debtor's immovable property. The application was granted in full by the court of first instance, since, as the court indicated, the fact of the debt was confirmed, as well as the fact of the preservation of the pledge. The appeal did ...

SEPARATE CONDITIONS ARE REQUIRED FOR THE JUDICIAL PROCEDURE OF FORECLOSURE ON THE SUBJECT OF COLLATERAL

The plaintiff (the pledgee) appealed to the court with a demand to the defendant to foreclose on the subject of the pledge by transferring it to the plaintiff. In support of the claim, the plaintiff pointed out that a loan agreement was concluded between the parties to ...

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