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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

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 ...

CREDITORS MAY BE CHARGED LOSSES FOR AN UNPROFITABLE BANKRUPT TRANSACTION

... contained on the website of the Supreme Court of Russia. The court came to such conclusions during the bankruptcy proceedings of the Vyborg Timber Corporation, which belonged to Vyborg Ltd. The bank "Tavrichesky" was chosen as one of the creditors. In 2018, the company was declared insolvent. On the eve of bankruptcy, her debt amounted to almost 14.92 billion rubles, however, she continued to work. In 2018 and 2019, the company's revenue grew, but in 2020 it fell, and in 2021 it turned out to be zero at all. The Federal Tax Service considered that the company came to this ...

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

... and the defendant had mutual claims, partially offset by a settlement agreement. Subsequently, the plaintiff was declared bankrupt, and the outstanding part of the defendant's claim was included in the register. The manager transferred funds to the ... ... 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 ...

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 ...

YOU CANNOT SELL A CLAIM FOR THE RECOVERY OF A SUBSIDY AND REMAIN A CREDITOR

As part of the bankruptcy case of a citizen, the courts considered the issue of including the bank's claim in the debtor's register (case No. A22-228/21). The debtor acted as a guarantor for the loan obligations of the company (borrower), ... ... are justified and should be included in the register. The Supreme Court referred the complaints of the debtor's manager and creditors to the board for consideration, reflecting in its ruling the argument that the obligations of the guarantor from the ...

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