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

... adopted judicial acts, as a 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 ... ... 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

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’ ... ... three instances, but the Supreme Court of the Russian Federation considered such a position to be incorrect. Initially, the debt arose from a guarantee that was concluded between the creditor and the future bankrupt. Subsequently, the main borrower and ...

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

... the debtor as bankrupt or an application on the inclusion of claims in the register of claims of creditors of the debtor. If the court finds that the claims satisfying the conditions of the Bankruptcy Law are justified and included in the register of creditors' claims of the debtor, the bankruptcy proceedings are not subject to termination. The case materials confirm and establish by the court of appeal that the bank's claims are included in the register of creditors' claims of the debtor, among others. Considering that the size of these ...

THE DEBTOR'S TAX OBLIGATIONS ARE PAID BY SELLING THE COLLATERAL AFTER THE CREDITOR RECEIVES THE BENEFIT

... as well as penalties accrued for non-payment of current tax obligations, should be made at the expense of funds received from the sale of this property as a matter of priority. The period of attribution of the corresponding expenses to the collateral creditor is determined by the court from the date of initiation of the debtor's bankruptcy case. The position of the Supreme Court The highest instance has annulled the judicial acts of the lower courts. The Judicial Board for Economic Disputes of the Supreme Court of the Russian Federation noted that the order of repayment of property ...

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 debt was based on the issued promissory note, however, the courts considered the fact of the validity of the security to be unproven. The district court pointed ...

THE ABSENCE OF CREDITORS DURING THE TRANSACTION PERIOD PRECLUDES THEIR CONTESTATION

... 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 obligations to creditors during the disputed period.

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

... (case no. A60-39837/14). The court of first instance refused to satisfy the claims, based on the fact that an application for lowering the priority of a tax claim filed more than eight years after the requirements were established in the register of creditors of the debtor could not be considered as a separate dispute to be considered in a bankruptcy case, since such an application is related to circumstances previously established by a court decision that entered into force the act. Otherwise, it will be possible to consider the creditor's application for inclusion in the register in the ...

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

The manager and the debtor appealed to the court with applications for the exclusion of the share in the debtor's ownership of real estate and apartments from the bankruptcy estate (case No. A73-1334/22). The courts of two instances refused to satisfy the manager's application, satisfying ... ... from the bankruptcy estate. However, in this situation, in order to protect the property interests of the bank as a collateral creditor, an appropriate guarantee is needed that allows not to release the pledgor from obligations to the collateral creditor ...

IF THE CREDITOR'S CLAIM IS JUSTIFIED, ITS REPAYMENT DOES NOT ENTAIL UNJUSTIFIED ENRICHMENT

... The court of first instance refused to satisfy the claim, referring to the fact that the court decision itself on collecting debts from the plaintiff in favor of the defendant was not reviewed and was not canceled. The cancellation of the determination ... ... the inclusion of the claim in the register, therefore, the amounts received are unjustified payments subject to return to the bankruptcy estate. The Supreme Court referred the defendant's complaint to the board, emphasizing the following: "The defendant ...

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

In the framework of the bankruptcy case (No. A67-9495/22), creditors and the debtor appealed to the court to challenge the decision of the creditors' meeting and the actions of the interim manager. The courts of two instances satisfied the requirements, justifying their decision by the fact that the interim manager held a meeting ...

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