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SUPREME COURT OF RUSSIA: LOWERING OF PRIORITY OF CLAIM IS NOT APPLICABLE IN BANKRUPTCY OF INDIVIDUAL

The Economic Board of the Supreme Court considered the case on the complaint of one of the creditors of the bankrupt individual, whose claims were lowered due to affiliation with the debtor. The lower courts came to the conclusion about the relationship between the debtor and the creditor, concluding that the loan issued by the creditor is justified, but is subject to satisfaction in the order preceding the distribution of the liquidation quota. However, the Supreme Court pointed at the mistakes...

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