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How the creditor’s inactivity affected the fate of debt in bankruptcy

Supreme Court of Russia considered a case in the framework of which one of the creditors made a request to include the claim based on a suretyship agreement and a judicial act in the register of creditors’ claims. The application was rejected by three instances, but the Supreme Court of the Russian Federation considered such a position ...

Supreme Court of Russia outlined the right of creditors to challenge the results of auction

... violations, but the district court agreed with the court of first instance. When considering the case, the Economic Board of the Supreme Court of Russia noted that creditors had the right to challenge the results of the auction, but only if they affected their property interests. In the case ... ... consideration, the price of the sold property was set according to its market value, the buyer paid the price, thereby replenishing the bankruptcy estate, and the creditors' references to the fact that the bankrupt company was an agricultural producer was considered ...

The Supreme Court of Russia named the terms of simplified bankruptcy proceedings

... he has the right to file a bankruptcy petition for his debtor without asking for the debt. The point in the case was put by Supreme Court of Russia, which noted that the rule providing banks with the opportunity to initiate bankruptcy of their debtors was due to the fact that these requirements, as a rule, are confirmed by standard evidence, and the process of verifying their validity is not very difficult. Thus, when deciding whether to accept a creditor's claim for processing, the courts must establish whether it is based on a loan agreement with a bank. Consequently, ...

Supreme Court of Russia resolved the issue of lease payments in bankruptcy

... Russia considered the case on the complaint of the leasing company, the payments in favor of which were canceled by the lower courts at the request of the debtor’s manager. The judges considered the existence of such transfers on the eve and during the bankruptcy period as a preference for one debtor over others, but the Supreme Court of Russia came to a different conclusion. The manager filed an application challenging the payments to the leasing company. The courts of three instances agreed with the applicant and satisfied the claim. Then the company, which received ...

SUPREME COURT OF RUSSIA: WHAT ARE THE ACTIONS OF CREDITOR IN THE EVENT OF TERMINATION OF THE AGREEMENT WITH BANKRUPT

... not provoke the reverse transfer of ownership of the disputed item. This is possible only after restitution, when the buyer returns the goods and the seller returns the money. Consequently, up to this moment, the car cannot be included in the debtor's bankruptcy estate. In the case under consideration, when the debtor could not return the money paid for the goods, the Supreme Court of Russia offered the parties two options for getting out of the conflict: the creditor keeps the car, includes a claim for damages in the register of creditors’ claims, while their value is adjusted taking into account the value of the goods; the creditor transfers the car to the bankruptcy estate, in which case the former buyer ...

When will the affiliation of creditor not become a reason for canceling the transaction?

The Supreme Court of the Russian Federation considered the case on the complaint of one of the debtor's creditors, who was not satisfied with the decisions issued by the lower instances. The issue concerned the inclusion of debt secured by three pledge agreements in the register. The debtor's bankruptcy trustee, in turn, insisted on the invalidity of the agreements. The courts of all three instances supported the position of the bankruptcy trustee and rejected the claim for inclusion in the register. Such a position was justified by the ...

Supreme Court of Russia determined the time period for consideration of claims on invalid transaction

... Economic Board considered the case on the inclusion of the debt of the bankrupt company to the buyer of a car into the register of creditors’ claims. The lower courts did not see any problems and satisfied the claim. However, the representatives of the Highest ... ... claims. The courts of three instances consistently satisfied the claim, but such a decision turned out to be erroneous. The Supreme Court of Russia recalled that a claim on a recognized transaction is considered to be declared on time if it has been ...

Supreme Court of Russia canceled three court rulings due to information in the Unified State Register of Legal Entities

The highest court of Russia considered the complaint of a bankruptcy trustee, who challenged the inclusion of the debt under the cession agreement in the register of creditors’ claims. According to him, the assignor company did not have the will to conclude the controversial agreement, which means that the debt transferred to it was unreasonable. Despite this, the lower instances considered that the assignment ...

Supreme Court of Russia considered it unreasonable to involve a third-party organization in bidding

The Economic Board considered the case on the complaint of a bankruptcy trustee and creditors of the debtor, who opposed the agreement concluded with a third-party organization on holding bidding within the framework ... ... due to it. The cases were combined into one procedure, the fate of which changed dramatically after being considered by the Supreme Court of Russia. Prior to that, all three instances unanimously supported the company holding the auction and satisfied ...

Supreme Court of Russia terminated an attempt to re-impose secondary liability on the head of debtor

... manager's fault and the damage caused. Subsequently, the proceedings on this bankruptcy were terminated due to the absence of a bankruptcy trustee. Then one of the creditors made another attempt to initiate an insolvency case. This time, another manager again filed an application for prosecuting ... ... completely different issue, and in this case, there was no need to talk about identity. The point in the case was put by the Supreme Court of Russia, which compared the parties to dispute, the subject matter and the grounds in detail, and came to the ...

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