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Supreme Court of the Russian Federation indicated mistakes when liquidating a creditor

... who acquired the debt to the bankrupt from the company which was subsequently liquidated. The court of first instance and the district court considered the liquidation of company to be a sufficient ground for excluding the debt from the register of creditors’ claims, but the court of appeal and the Supreme Court of the Russian Federation did not agree with this position. The application to remove the claim of liquidated creditor from the register was initiated by the bankruptcy trustee of the debtor, who considered that ...

Supreme Court of Russia explained how to identify a fake creditor

... Supreme Court of Russia criticized the judges who refused to carry out an examination of the disputed documents and hear the arguments of the ex-head of the debtor company, who was not even included in the process as a witness. The ruling of the Supreme Court, according to legaltop.ru, turned out to be an instruction for identifying a fake creditor. The company ‘RealtService’ carried out the construction of the building of NUSR ‘MISiS’. In the course of the bankruptcy of the company, it turned out that it actually incurred serious expenses, having invested about 800 million of its own funds ...

THE ABSENCE OF CREDITORS DURING THE TRANSACTION PERIOD PRECLUDES THEIR CONTESTATION

... instances satisfied the applications, pointing out that the disputed payments were made in the absence of a counter-provision on the part of the defendant. The cassation referred the dispute for reconsideration and noted that in the present case, the courts had not established whether the debtor had obligations (both with and without due date) to creditors during the period of making disputed payments, whose claims were then included in the register of creditors' claims. The bankruptcy trustee's statement on challenging the transaction also does not indicate whether the debtor has unfulfilled ...

IT IS NECESSARY TO REDUCE THE PRIORITY OF THE CREDITOR'S CLAIMS IN A TIMELY MANNER

The debtor's creditors appealed to the court with a request to resolve disagreements on the issue of accounting for tax claims on capitalized payments as part of not the first, but the third stage of the register (case no. A60-39837/14). The court of first instance refused to satisfy the ...

THE PRESENCE OF CREDITORS' STATEMENTS EXCLUDES THE TERMINATION OF BANKRUPTCY PROCEEDINGS IF ONE OF THEM IS UNFOUNDED

The creditor appealed to the court with an application for declaring the debtor bankrupt (case No. A41-27427/23). Having established the presence of signs of insolvency in the debtor and the failure to provide evidence of the impossibility of applying bankruptcy - debt restructuring ...

THE RIGHTS OF A SECURED CREDITOR MUST BE RESPECTED WHEN EXCLUDING A SINGLE DWELLING

... collateral creditor, an appropriate guarantee is needed that allows not to release the pledgor from obligations to the collateral creditor upon completion of the procedure and in case of refusal by the authorized federal body to resume repayment of loan obligations ... ... debtor upon the occurrence of other events to realize the collateral object. With a different approach, namely, applied by the courts, taking into account the sanctions imposed on the debtor by the authorized federal body, the bank actually loses the right ...

IS IT POSSIBLE TO HOLD A CREDITORS' MEETING IN SPITE OF INTERIM MEASURES

... creditors' meeting for 07/21/2023, about which he posted a message to the Unified Federal Register of Bankruptcy Information on 07/06/2023. At the same time, the Bankruptcy Law does not contain provisions obliging the interim manager to apply to the court to postpone the first creditors' meeting for the purpose of considering all creditors' claims. In turn, the creditor did not apply to the court in advance with an application to postpone the first creditors' meeting, despite the fact that the message about the planned meeting ...

THE MAIN PRINCIPLE OF THE BANKRUPTCY PROCEDURE IS TO MAINTAIN A BALANCE BETWEEN THE INTERESTS OF THE DEBTOR AND CREDITORS

... result of which it appealed to the district court with a cassation appeal. Two instances released the debtor from fulfilling obligations and completed the procedure for the sale of property. The Court of Cassation did not share the position of the lower courts, annulled their judicial acts and sent the dispute for a new examination, indicating that not all necessary measures had been taken. The sale of a real estate object, even at cadastral value, would allow meeting the requirements of the collateral creditor in almost full. A detailed review has been prepared by the Association of Lawyers for Registration, Liquidation, Bankruptcy and Judicial Representation

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

... inclusion of a creditor's claim in the register does not provide any guarantees of its subsequent satisfaction, and therefore it is necessary to establish a balance of interests of the creditor and the debtor. Such a balance, according to the Supreme Court, can be ensured by granting the creditor the right to an alternative choice between two options: keeping the property or transferring it to the debtor's bankruptcy estate with the establishment of a collateral status. Despite the fact that the text of the judicial act does not directly ...

Supreme Court of Russia indicated what should not be done when changing a bankruptcy trustee

... and the new trustee appointed by the court repeatedly appointed a meeting of creditors and cancelled later. As a result, by the time the complaint was considered in the district court, the meeting had not taken place, and the panel of judges made the creditors guilty of this. The Supreme Court of the Russian Federation did not agree with this formulation of the issue. The Economic Board pointed out that the responsibility for not holding the meeting should not be shifted to bona fide creditors who relied on the trustee to organize it....

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