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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 since the company did not ...

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

... of its consideration, the courts of three instances refused to satisfy the claims with reference to the conditional fulfillment of the obligation (delivery is carried out after payment of the goods in full). The plaintiff filed a complaint with the Supreme Court of the Russian Federation. As the supreme court pointed out, the mere 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 ...

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

... issue had been considered by the court of appeal and the district court, 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 ...

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