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THE SUPREME COURT ORDERED THE FOUNDER TO PAY FOR THE BANKRUPTCY PROCEDURE OF HIS COMPANY

If the bankrupt company does not have the funds to finance the procedure, then the founders are obliged to pay for the auction, the services of the manager and other court costs. The corresponding decision was made by the Supreme Court (SC) in the case of the insolvency of LLC "Tevos". So, its founder was obliged to pay for the bankruptcy procedure of the company. The company filed for its own bankruptcy in November 2018. The Arbitration Court of the Arkhangelsk Region initiated a case and in December introduced a monitoring procedure. But the debtor did not have the funds to ...

BUDGET MONEY WILL BE DISTRIBUTED TO ALL CREDITORS OF THE BANKRUPT

... also rejected the conclusions of the courts on the targeted nature of funds under municipal and state contracts. In this regard, it is worth noting that this position of the Supreme Court of the Russian Federation is a turn in the early practice of the court, since earlier the Supreme Court considered the funds on the special account of the bankrupt debtor, listed under the state order, not subject to distribution among other creditors. The only difference between that dispute and the present one is only that in an earlier case it was about a state defense order, however, there is reason ...

CREDITORS WILL BE ABLE TO DECIDE THE FATE OF THE PARTIALLY PAID FOR BANKRUPT GOODS

... claim at the expense of the value of the collateral. The second scenario, in turn, involves the transfer of property to the bankruptcy estate with the establishment of collateral status and subsequent preferential satisfaction of the creditor's claim based on the results of the sale of property at auction. Thus, the Supreme Court of the Russian Federation canceled the judicial acts of the lower courts and sent the case for a new hearing to the first instance.

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