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SUPREME COURT : THE PARTICIPANTS OF THE DEBTOR-BANKRUPT HAVE PRIORITY TO SATISFY THE CLAIMS

... satisfying the application, considering that the former participant does not have priority over the other participants of the debtor, and his claim should be repaid in the general order of distribution of the liquidation quota. The Supreme Court of the Russian Federation did not agree with this approach and noted that the procedure for satisfying the claim for payment of the actual value of the share is not directly regulated by the Bankruptcy Law. At the same time, such a claim, which has a corporate nature, cannot compete with the claims of creditors included ...

THE SUPREME COURT WILL LOOK INTO THE POSSIBILITY OF INDEXATION IN BANKRUPTCY

... court with an application for indexation of the awarded amounts, which was satisfied by the courts of three instances. The Supreme Court of the Russian Federation referred the company's complaint to the judicial board, reflecting in the definition the arguments of the cassator that since the introduction of bankruptcy proceedings against the debtor, indexing is not applied.

SUPREME COURT: IT IS POSSIBLE TO BALANCE EVEN IF THERE IS A DISPUTE ABOUT THE AMOUNT OF DEBT

... counterclaim within the framework of the said case and to balance the counterclaims. The Supreme Court of the Russian Federation did not agree with the lower instances and refused... ... pointing out that in the notification the defendant, in fact, stated that there was no debt on his part to pay for the work actually performed under the subcontract, thereby... ... addition to determining the closing balance, did not perform any other actions, the bankruptcy trustee's application was not subject to satisfaction. In order to verify...

THE SUPREME COURT WILL REVEAL THE SCHEME FOR THE WITHDRAWAL OF THE DEBTOR'S ASSETS THROUGH OFFSETTING

The debtor's manager (case no. A41-79022/17) applied to the court for recovery of damages from the defendants. The courts refused ... ... justifying the recovery of damages. The courts also refused to review the judicial act, after which the manager appealed to the Supreme Court of the Russian Federation, which referred the case to the collegium. The Court noted the applicant's arguments that ...

SUPREME COURT: THE CONSEQUENCES OF THE DEBTOR'S INACTION EXTEND TO HIS LEGAL SUCCESSOR

Due to the debtor's lack of property, enforcement proceedings were stopped in 2016. After 5 years, the legal successor of the creditor appealed ... ... creditor after the end of the proceedings in 2016. The courts of higher instances found no violations in this decision. The Supreme Court of the Russian Federation, having considered the case, recalled that when transferring the rights of the creditor,...

SUPREME COURT: DIRECTOR CAN REPAY COMPANY'S TAX DEBTS, BUT IN GOOD FAITH

The Supreme Court of the Russian Federation considered the complaint on the dispute on invalidation of the loan agreement concluded between the debtor and his former director (case no. A40-274335/19). The manager applied to the court, pointing out that the defendant provided the debtor with funds under the loan agreement for the purpose of paying off tax debts. The disputed loan was granted ...

A SPECIAL ACCOUNT IS NOT A PANACEA. THE SUPREME COURT ALLOWED TO WITHDRAW FUNDS RECEIVED UNDER STATE CONTRACTS FROM BANKRUPTS

As indicated by the Supreme Court of the Russian Federation in the Review of Judicial Practice of resolving disputes on insolvency (bankruptcy) for 2022 dated April 26, 2023 (paragraph 13), the condition of the contract for settlements through a special account ... ... the fact that earlier the Supreme Court took the position that funds placed on a special account transferred to an insolvent debtor under a state contract for the execution of a defense order are protected by executive immunity. That is, the new position ...

A SPECIAL ACCOUNT IS NOT A PANACEA. THE SUPREME COURT ALLOWED TO WITHDRAW FUNDS RECEIVED UNDER STATE CONTRACTS FROM BANKRUPTS

As indicated by the Supreme Court of the Russian Federation in the Review of Judicial Practice of resolving disputes on insolvency (bankruptcy) for 2022 dated April 26, 2023 (paragraph 13), the condition of the contract for settlements through a special account ... ... the fact that earlier the Supreme Court took the position that funds placed on a special account transferred to an insolvent debtor under a state contract for the execution of a defense order are protected by executive immunity. That is, the new position ...

SUPREME COURT INTERESTED IN FAKE LOAN IN BANKRUPTCY CASE

On May 25, 2023, the Economic Board of the Supreme Court of the Russian Federation will consider the complaint of the bankruptcy trustee in the bankruptcy case of the management company "Dom-Master" (No. A40-274335/2019). It refers to ... ... case brought against him to be closed, the head transferred 114.497 million to the company's account, at the expense of which debts to the tax authorities could be repaid. At the same time, Fokin executed the transaction as a target loan agreement with ...

THE SUPREME COURT ALLOWED TO BANKRUPT FOREIGN FIRMS IN RUSSIA

On March 21, 2023, the highest court in the Russian Federation issued a verdict (Definition No. 309-ES23-1409) in the bankruptcy case of a foreign company (No. A76-31539/2021). The representative of the defendant tried to appeal the decision of ... ... bankruptcy claims, where the defendant is a foreign element, many experts spoke in favor of the cancellation of such a verdict by the Supreme Court. Apparently, Igor Grechanik (the sole owner of the company and a Russian citizen), who filed a complaint with the ...

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