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Supreme Court of Russia resolved the issue with the arrested property of debtor

The highest court considered the case, in which the question about the possibility of excluding the property that was arrested by another court from the bankruptcy estate of debtor was raised. The Economic Board concluded that it was possible and lawful. As part of the insolvency case of the company, one of its creditors applied to the court with a demand to exclude the property seized in his favor by a court of general jurisdiction from the bankruptcy estate. The claim was satisfied by the court...

Where should a shareholder apply to in case of bankruptcy of a developer?

The bankruptcy trustee of a bankrupt developer decided to challenge the decisions made by lower courts. They returned the claim filed by one of the creditors to include the debt in the register of creditors’ claims with the reference to the necessity to contact the bankruptcy trustee with such an issue. However, the Supreme Court of Russia recalled that this procedure does not work in all cases. As part of the developer's bankruptcy case, one of the equity holders (an individual) demanded in...

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...

Supreme Court of Russia indicated the right of a party to refuse the complaint

The Supreme Court considered the case within the framework of the insolvency of a legal entity. The bankruptcy of the company ended with the conclusion of a settlement agreement, the decision on the approval of which the bank tried to challenge. Having reached the Supreme Court of the Russian Federation, the appealer decided to drop the complaint, but two other participants in the process disagreed with this. When considering the cassation appeal, the Supreme Court of the Russian Federation received...

Supreme Court of Russia resolved the issue of the bank's beneficiaries brought to subsidiary liability

The Economic Board considered the case at the request of the bankruptcy trustee of the bank - the Deposit Insurance Agency - on bringing a number of beneficiaries of the credit institution to subsidiary liability. The positions of the judges of the lower instances were divided, the case went through not a single round of challenge and finally reached the Highest court of Russia. The DIA's claim was that the persons named in the claim were allegedly involved in making decisions that were economically...

THE COURT: PARTICIPATION IN THE CASE AS A THIRD PARTY IS NOT A GROUND FOR DOWNGRADING THE CLAIMS IN BANKRUPTCY

The Arbitration Court of the Moscow District considered the complaint of the creditor, the claims of which were downgraded by the lower courts due to affiliation with the debtor. As the basis for this, the fact of participation of the debtor and the creditor in another case as third parties was named. However, the district court did not agree with this interpretation of the law. The application for inclusion in the register of creditors’ claims was based on the lease legal agreement. The debtor...

THE SUPREME COURT OF RUSSIA ADMITTED OFFSETTING OF CLAIMS UNDER INDEPENDENT CONTRACTOR AGREEMENT IN BANKRUPTCY

The Economic Board of the Supreme Court of the Russian Federation considered the case at the request of a bankruptcy trustee. He demanded that the transaction must be invalidated by offsetting similar claims, and the parties to the agreement were the contractor (bankrupt company) and the customer. The courts of three instances sided with the applicant, but the Supreme Court of Russia rejected his claim him. The essence of the dispute arose as a result of the parties' performance of a contract...

MOSCOW COMPANY DEMANDS TO DECLARE BANKRUPTCY OF SOUTH KUZBASS PJSC

An application to declare bankruptcy of South Kuzbass PJSC was submitted to the Court of Arbitration of the Kemerovo Region. It has already been accepted by the court for proceedings, the issue of the validity of the claims will be considered on May 31. The case was initiated by the Moscow company Besko LLC, the debt to which amounted to 8.7 million rubles. The potential debtor has existed for 28 years and unites both coal mining and coal processing industries. According to the company's own data...

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