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THE SUPREME COURT HAS DETERMINED THE TERMS OF PAYMENT OF DEBTS ON BANKRUPTCY BY THIRD PARTIES

The key criterion in determining the legality of the transaction will now be the ownership of funds. The precedent decision was made within the framework of the bankruptcy proceedings against the son of former Prime Minister Vitaly Chernomyrdin. The applicant can challenge the payment of the debt by a third party only if there is evidence that the money belonged to the bankrupt himself and was withdrawn from the bankruptcy estate. This also includes payments made against a third party's debt to...

CAN A SPOUSE LIQUIDATE A DEBT OF A BANKRUPT?

When considering a case on challenging the repayment of the common debt of the spouses by the debtor's wife, the courts could not come to a common opinion, and the manager insisted on recognizing the transaction as invalid. But the Supreme Court put an end to the issue, having explained its position quite simply. Initially, the debt arose from a loan agreement in which the spouses acted as co-borrowers, and their apartment was pledged to the bank. Subsequently, the husband was declared insolvent...

THE COURT REJECTED LEGAL SUCCESSION AFTER SATISFYING ALL THE CREDITORS’ CLAIMS

The district court has recently considered the claim for procedural substitution in bankruptcy. It was supposed to take place on the initiative of a third party in connection with the satisfaction of all the register claims to the debtor's creditors. However, the creditors did not agree with this state of affairs and contested the judicial acts of the courts of the first instance and appeal. When reconsidering the case, the district court took the side of the creditors, recalling that in such...

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