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THE SUPREME COURT TIGHTENS THE RULES FOR ADVANCING BANKRUPT TRADES

If the participant of the failed auction refuses to conclude the contract, the deposit will not be returned. This conclusion was reached by the Supreme Court of the Russian Federation when considering a cassation appeal in the framework of a dispute on recovery in favor of the sole bidder held in the framework of the bankruptcy case of the deposit (case No. A56-16535/20). The plaintiff transferred the deposit to participate in the auction for the sale of the property of the insolvent debtor. The auction was declared invalid due to the admission of one participant ...

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