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Arbitration court clarified when it is necessary to pay off a bankrupt’s rental debt

The Arbitration Court of the Ural District explained that if the debtor's expenses for commercial rental of housing are recognized by the bankruptcy trustee or by the court as reasonable, they are subject to repayment within the framework of the current payments. To do this, it is necessary to take into account the need for rent, the area of the premises, the cost of living and a number of other criteria. In a situation where the bankrupt does not have enough money to pay off all the debts,...

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

The Supreme Court of Russia considered a case in which one of the potential buyers of the debtor's property made a decision to complain to the Federal Antimonopoly Service. The applicant was not satisfied with the fact that the bankruptcy trustee did not allow him to participate in bidding, referring to the failure to provide the necessary documentation. The lower courts took opposite positions, but the Supreme Court of the Russian Federation put an end to the issue. The question concerned the...

The number of bankruptcies of individuals in Russia increased by a third

In the first quarter of 2022, the number of individuals declared bankrupt by the court increased by 33% compared to the same period of the previous year. 54.2 thousand people were declared insolvent. Despite this, the growth rate still slowed down compared to 2021, when the difference between the first quarter of 2020 and 2021 was more than 80%. The ranking of regional leaders in terms of the number of insolvency cases has also changed. The Krasnodar Territory and the Moscow Region took the first...

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

The highest court considered the case, in the framework of which the debtor citizen was tried to be declared insolvent. The courts of lower 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...

How to invalidate a deal with the debtor's foreign real estate

The Arbitration Court of the Moscow District considered the case based on the complaint of a debtor, whose transaction, at the request of a bankruptcy trustee, was declared invalid by the lower authorities. The trustee considered the rights of creditors violated in a situation of alienation of the bankrupt’s house in Cyprus in favor of his young daughter. Considering the application, the court of first instance indicated that the disputed agreement was concluded in a situation of insolvency of...

The court stood up for a bona fide buyer of the bankrupt’s real estate

The Arbitration Court of the North-Western District considered the complaint of a citizen who purchased an apartment from an individual who was in the process of debt restructuring. The courts of two instances, at the initiative of a bankruptcy trustee, considered the transaction invalid, but the district did not agree with such a position. The property in question was purchased by the applicant with proceeds from the sale of three other real estate objects, including a plot of land. According...

COURT TO CONSIDER BANKRUPTCY CASE OF TULA SENATOR FROM FORBES LIST

A claim to declare the insolvency of Senator Dmitry Savelyev from the Tula Region has been filed with the Arbitration Court of the Moscow Region. The case was initiated by an individual, and the the amount of debt reached la little less than 600 thousand rubles. It is noteworthy that the potential bankrupt is one of the hundred most influential people in the Tula region, and is also on the Forbes list among the richest domestic civil servants, Tula News Service reports . The official's insolvency...

Supreme Court of Russia resolved the dispute with the executive immunity of debtor

The Supreme Court of Russia considered the case on the complaint of a bankruptcy creditor of debtor. The applicant expressed disagreement with the position of the lower courts, which excluded the bankrupt's expensive real estate from the bankruptcy estate: it was a house with an area of over 300 sq.m., as well as the land plot on which it was located. The process was initiated by the debtor himself, who, referring to the fact that this was his only housing, asked to exclude it from the bankruptcy...

Experts summed up the results of bankruptcies that took place in 2021

2021 showed a significant increase in insolvency cases of citizens and a relatively small increase among legal entities. In numbers, this is a threefold increase in the number of procedures compared to 2019 for individuals, while companies became more likely to go bankrupt by only 4%. However, experts predict further growth of this indicator. The high growth of insolvency cases of citizens is explained by the increase in the credit burden and the increasing spread of out-of-court bankruptcy procedures...

Extrajudicial bankruptcy regulations may be soon changed in Russia

The Ministry of Economic Development is working on the issue of amending the law on insolvency as part of the procedure for out-of-court bankruptcy of citizens. Among the legal developments, there is a proposal to allow applicants to correct the data they indicated when initiating bankruptcy. Corrections of information may be related to the debtor's application for out-of-court bankruptcy, to which he will be entitled to make adjustments. It is proposed to set a deadline for such a possibility...

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