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Supreme Court of Russia resolved the issue of downgrading the claims of an affiliated creditor

The Economic Board considered the complaint of the debtor and the tax authority against the decisions of the courts of appeal and the district, by which the claims of the creditor affiliated with the debtor were included in the register of creditors’ claims. The applicants considered that the debt should be subordinated, as the judge at first instance considered. The Supreme Court of Russia put an end to the matter with ...

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 ...

Supreme Court of Russia sided with the creditor in a situation of insufficient evidence

The highest court of Russia considered the complaint of one of the debtor's creditors, whose claim to be included in the register of creditors’ claims was rejected by the lower courts. The reason for this was the lack of the documents, confirming the debt and submitted by the applicant. However, the Supreme Court of Russia ...

Supreme Court of Russia put an end to the case with the omission of the procedural time limit

The Economic Board considered a case on the challenging of the court decision, which recognized the multimillion-dollar debt of an insolvent legal entity in favor of a third company, by one of the creditors (tax authority). The court of appeal and the district court refused to consider the complaint due to the fact that a one-month procedural time limit had been missed missed. The disputed debt to the company was formed on the basis of a contract ...

Supreme Court of the Russian Federation clarified what cannot be considered compensatory financing

The highest court considered the case, one of the creditors in which filed the claims for inclusion in the register of creditors’ claims. The two first instances supported it, and the district court downgraded the debt in the registry, citing affiliation and, as a result, compensatory funding. The ...

Supreme Court of Russia puts an end to the case on the subordination of the restitution claim

The case was considered by the highest court at the request of the debtor, who was dissatisfied with the decisions of the lower courts. The claims for the inclusion of a restitution claim in the register of creditors’ claims, filed by one of the creditors, were subordinated by the first instance, but the court of appeal and the district court cancelled the order. Having considered the issue, the Supreme Court of the Russian Federation supported the position ...

The Supreme Court demanded a more detailed consideration of the issue of debt

The highest court considered the case of challenging the debtor's debt to one of the creditors. Prior to this, the judicial act was considered by higher instances on the complaint of the debtor himself, but was kept in force. After that, having reached the Supreme Court of Russia, the act was canceled. The question concerned the debt ...

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

... 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, the applicant in the present case had the right to initiate the debtor's insolvency proceedings under a simplified procedure ...

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

The highest court of 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...

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

... rejected the claims of the manager, citing the lack of proof of the relationship between the 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 the head of debtor, backing up his position with the same arguments. The court of first instance terminated the proceedings ...

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