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District court outlined how to deal with debt on a promissory note in bankruptcy

... 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 out a number of errors and made a decision to reconsider the submitted application when considering the case. The promissory note was originally issued to the applicant's father but later was inherited by his son. The courts of ...

District court clarified what to do with a participatory who was late with his claims

... made by the lower instances. In them, the judges rejected the applicant’s claims to restore the deadline he had missed for filing a claim for inclusion in the register of creditors’ claims and, as a consequence, the inclusion itself. However, the district court assessed the situation differently, reminding colleagues that in the case under consideration the issue was a bankruptcy of the developer, which means that there were special terms for creditors. The failure to notify the manager of the ...

District court exempted the debtor from compensation for damages in road accident

... of the debtor-citizen from the fulfillment of monetary obligations to creditors in connection with insolvency. The lower courts concluded that such a provision could be applied, making an exception for damage caused by a road accident. However, the district court did not see any problems for writing the debt off in such a situation. Several circumstances served as the basis for filing an application for their own bankruptcy: the presence of debts to creditors (over 800 thousand rubles in total),...

District Court indicated when the director’s subsidiary liability may be reduced

... supporting this position, indicated that the discovered funds went to pay off the current payments, but not to settle with creditors. In this regard, the revealed property would not affect the amount of subsidiary liability in any way. However, the district court looked at the situation differently, recalling that the amount of subsidiary liability of the former director of the debtor was determined on the basis of both the claims of creditors and the aggregate amount of current payments, which ...

District court allowed control of creditors over the debtor's expenses

... decision was canceled by the court of appeal, which indicated that the number of creditors' votes was insufficient. The judicial board designated the right to apply to court and to the bankruptcy trustee to resolve the disagreements that had arisen. The district court, in turn, noted that the spending of the debtor's funds should not be random. At the same time, earlier, the courts had already established the fact of violation of the procedure for approving the estimate of current costs. In the circumstances ...

District Court allowed an installment payment on amicable agreement in bankruptcy

... installment plan for the execution of the agreement. However, the appeal cancelled this decision with reference to the fact that the court had no right to make adjustments to the amicable agreement concluded between the parties. The judicial board of the District Court reminded its colleagues that the creditor, who owns more than 25% of the total amount of debts under the transaction, has the right to challenge and terminate the amicable agreement. The applicant in the present case owned a smaller share,...

DISTRICT COURT OBLIGED TAX SERVICE TO PAY FOR THE BANKRUPTCY OF COMPANY

The district court considered the case on the complaint of a bankruptcy trustee, who could not get payment for his services in bankruptcy proceedings. The debtor did not have enough funds for this, and the tax authority was the applicant in the case. The ...

DISTRICT COURT CLARIFIED THE GROUNDS FOR SUSPENSION OF BANKRUPTCY TRUSTEE

... was transferred for consideration of the Arbitration court of Moscow District. The appealed (tax service) was not satisfied with the position of the courts, which refused to to remove the manager from participation in the case. At the same time, the district court questioned the correctness of the colleagues' position. The arguments of the tax authorities boiled down to the fact that the bankruptcy trustee proposed by one of the creditors was associated with a group of companies, which included ...

THE DISTRICT COURT DID NOT RECOGNIZE THE FAULT OF BANKRUPTCY TRUSTEE IN THE INSUFFICIENCY OF BANKRUPTCY ESTATE

... case, the creditors did not receive the amount of the debt of the company excluded from the register. When considering the dispute, the opinions of the judges were different: the first and the second instances took the side of the applicant, but the district court supported the trustee. His arguments were that the applicant had not proved the fact of receiving funds from the creditor excluded from the Unified State Register of Legal Entities. In addition, the trustee referred to his lack of information ...

MADE HASTE AND LOST MILLIONS OF RUBLES: DISTRICT COURT RECOVERED DAMAGES FROM BANKRUPTCY TRUSTEE

... from the bankruptcy trustee in the framework of the debtor's insolvency case. The initiator of the process was the tax authority, and the basis for such measures was the premature settlement of the anti-crisis manager on behalf of the debtor. The district court considered the manager's actions premature and recovered damages from him. Initially, the dispute began with the fact that the bankruptcy trustee applied to the court with a statement to invalidate the transaction to transfer funds as ...

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