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THE SUPREME COURT OF RUSSIA CLARIFIED THE CRITERIA OF BAD FAITH OF GUARANTEE GIVER IN BANKRUPTCY

... for downgrading the claims of the guarantor to the principal. At the same time, the Supreme Court also clarified the moment of debt qualification. The fact is that the bank's recourse claim arose after the initiation of a case on the insolvency of the debtor (principal), which could have served as a reason for the classification of such a debt as a current payment. However, the bank guarantee agreement itself was concluded before the initiation of the bankruptcy case - in such a situation, the debt under the ...

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