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District court outlined how to deal with debt on a promissory note in bankruptcy

The Arbitration Court of the North-Western District considered the complaint of the creditor, whose claim to include the debt into the register of creditors’ claims was rejected by the lower instances . The disputed ... ... on the issued promissory note, however, the courts considered the fact of the validity of the security to be unproven. The district court pointed out a number of errors and made a decision to reconsider the submitted application when considering the ...

THE COURT: CREDITOR'S DOUBTS ABOUT ACCURACY OF PAYMENT OF CURRENT PAYMENTS MUST BE DISPELLED BY BANKRUPTCY TRUSTEE

... actions of the bankruptcy trustee and recovery of damages from him was referred to the arbitration court at the request of the creditor. The claim was filed because the bankruptcy trustee repaid current payments in favor of a third party. Obligations in this case followed from the contract of assignment of the right of claim. When considering the claim, the courts of the first two instances rejected it, however, the district court found that the colleagues did not understand the situation sufficiently and canceled their decisions. The applicant's ...

DISTRICT COURT CLARIFIED THE GROUNDS FOR SUSPENSION OF BANKRUPTCY TRUSTEE

... was transferred for consideration of the Arbitration court of Moscow District. The appealed (tax service) was not satisfied with the position of the courts, which refused to to remove the manager from participation in the case. At the same time, the district court questioned the correctness of the colleagues' position. The arguments of the tax authorities boiled down to the fact that the bankruptcy trustee proposed by one of the creditors was associated with a group of companies, which included both the debtor and the creditor. The lower courts, in turn, indicated that there was nothing to remove the trustee for, since he had not committed any illegal actions in the framework ...

BANKRUPTCY OF A CAPTAIN: THE COURT HAS CLARIFIED WHAT TO DO IF THE SHIP ‘HAS SUNK’ AND THE CAPTAIN IS GUILTY

In the framework of the case of bankruptcy of the ship's captain, the courts considered the issue of releasing him from ... ... for compensation for damage of the ship that had fallen into disrepair. However, the District Court did not agree with this conclusion. The debt was formed to the company... ... of sea transport, as a result of which the damage was caused. Leaving a debt to the creditor, the courts justified this by causing harm by illegal actions of the debtor...

THE DISTRICT COURT RECOGNIZED THE DEBTOR'S RIGHT TO INSTALLMENT PAYMENT OF DEBT

The Arbitration Court considered the issue of the installment plan for the execution of a judicial act within the framework of a bankruptcy case. The claim was satisfied by the court of first instance and rejected by the second. The district court cancelled the ruling of appeal. The applicant was an individual, in respect of whom a decision to return the funds transferred by the debtor to the bankruptcy estate was previously made. The applicant applied to the court with a demand ...

DISTRICT COURT FOUND NO VIOLATIONS IN THE INCREASED PRICE OF DEBT REDEMPTION

... consideration of the application, it was already known that the debtor had no property, and the case was at the stage of bringing the persons controlling him to subsidiary liability. Having rejected the procedural succession, the courts suspected the failed creditor of obstructing the normal course of the bankruptcy case and bad faith. As for the district court, its board found no such circumstances, having indicated the right of both parties to conclude an assignment agreement and to transfer the right of claim to the debtor. Moreover, the agreement concluded between the parties was not challenged ...

THE COURT REJECTED LEGAL SUCCESSION AFTER SATISFYING ALL THE CREDITORS’ CLAIMS

... the satisfaction of all the register claims to the debtor's creditors. However, the creditors did not agree with this state of affairs and contested the judicial acts of the courts of the first instance and appeal. When reconsidering the case, the district court took the side of the creditors, recalling that in such a situation, other legal consequences arise, for example, the termination of the bankruptcy case. The cassation instance indicated that the substitution in bankruptcy can only be possible in a situation where the debt to the creditor was redeemed from him by a third party. At the same time, if the third party made a decision to pay ...

THE COURTS HURRIED TO BRING THE HEAD OF DEBTOR TO SUBSIDIARY LIABILITY AND MADE A MISTAKE

... challenged a number of transactions, and additional funds were transferred to the bankruptcy estate. Regarding the harm caused to creditors by the commission of a number of transactions, it was noted that the named agreements were contested by the trustee and declared invalid. As for the late filing of the company's bankruptcy petition, the district court indicated that such a conclusion was mistakenly made without a full and comprehensive study of the circumstances ...

WHAT TO DO IF FILING OF BANCRUPTCY CLAIM IS PREMATURE

... publication, but on the 14th day. This fact did not bother the judge of the court of first instance, but was noticed by the appeal and the ruling on the acceptance of the application for proceedings was canceled. Then the creditor complained to the district court, referring to the fact that the technical error he made did not affect the rights and interests of other interested parties in any way. The second creditor, who also published a statement of intent to drive the debtor into bankruptcy in the UFRI, did so a day later than the applicant. Thus, his right to file a bankruptcy petition against debtor still arose a day later. Considering the complaint, the district court agreed with the applicant, stating that, in its opinion,...

THE COURT: TAX CLEARANCE CERTIFICATE DOES NOT CONFIRM A COMPLETE ABSENCE OF DEBTS

An application for the inclusion of the tax authority's claim in the register of creditor’s claims was submitted to the Arbitration Court of the North-West District. The manager was against satisfying the claim,... ... manager, considering the certificate sufficient evidence, and refused to include the tax authority claim in the RCC. However, the district court considered the arguments of the tax authorities and cancelled the previous rulings, having taken a position diametrically ...

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