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Supreme Court of Russia: what to do in the event of buying a car from a debtor

... Economic Board indicated that in such a situation the creditor had two ways: he may not transfer the car to the bankruptcy estate, then the amount of losses caused to him should have been adjusted for the cost of the car, or may transferred the car to the bankruptcy estate, after which the pledge rules will would be applied to the vehicle ( decision No. 307- EC21-5824 of July 22, 2021). Tap the link to view the full version of the review of the Supreme Court of Russia

SUPREME COURT OF RUSSIA: WHAT ARE THE ACTIONS OF CREDITOR IN THE EVENT OF TERMINATION OF THE AGREEMENT WITH BANKRUPT

... not provoke the reverse transfer of ownership of the disputed item. This is possible only after restitution, when the buyer returns the goods and the seller returns the money. Consequently, up to this moment, the car cannot be included in the debtor's bankruptcy estate. In the case under consideration, when the debtor could not return the money paid for the goods, the Supreme Court of Russia offered the parties two options for getting out of the conflict: the creditor keeps the car, includes a claim for damages in the register of creditors’ claims, while their value is adjusted taking into account the value of the ...

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