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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...

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