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DISTRICT COURT PUT AN END TO THE CASE ON SUBORTINATION OF CREDITORS’ CLAIMS

The case on subordination of the creditor's claims within the framework of the bankruptcy process was referred to the arbitration court. The court of the first instance saw no grounds for this, but the appeal court took the opposite position. The district court put an end to the case. The lender's statement was based on a loan obligation. After the introduction of the monitoring procedure, the lender requested that the debt owed to him should be included in the register. The court of the first ...

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

The Arbitration Court of the North-Western District considered the complaint of the creditor, whose claim 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 ...

THE COURT: CREDITOR'S DOUBTS ABOUT ACCURACY OF PAYMENT OF CURRENT PAYMENTS MUST BE DISPELLED BY BANKRUPTCY TRUSTEE

... sold the right to claim against the debtor and the debtor himself were affiliated persons. Consequently, upon establishing this fact, there were grounds for downgrading the claims of the company that bought the rights under the cession agreement. The District Court, considering the complaint, recalled that if the creditor has doubts about the correctness of the trustee’s actions, in particular, regarding the settlement of claims, the trustee is obliged to dispel these doubts. It is his the responsibility to prove that his actions were lawful and justified, which ...

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 both the debtor and the creditor. The lower courts, in turn, indicated that there was nothing to remove the trustee for, since he had not committed any illegal actions in the framework ...

THE DISTRICT COURT RECOGNIZED THE DEBTOR'S RIGHT TO INSTALLMENT PAYMENT OF DEBT

The Arbitration Court considered the issue of the installment plan for the execution of a judicial act within the framework of a bankruptcy case. The claim was satisfied by the court of first instance and rejected by the second. The district court cancelled the ruling of appeal. The applicant was an individual, in respect of whom a decision to return the funds transferred by the debtor to the bankruptcy estate was previously made. The applicant applied to the court with a demand ...

DISTRICT COURT FOUND NO VIOLATIONS IN THE INCREASED PRICE OF DEBT REDEMPTION

... consideration of the application, it was already known that the debtor had no property, and the case was at the stage of bringing the persons controlling him to subsidiary liability. Having rejected the procedural succession, the courts suspected the failed creditor of obstructing the normal course of the bankruptcy case and bad faith. As for the district court, its board found no such circumstances, having indicated the right of both parties to conclude an assignment agreement and to transfer the right of claim to the debtor. Moreover, the agreement concluded between the parties was not challenged ...

THE DISTRICT COURT OUTLINED THE PECULIARITIES OF INVOLVEMENT THE APPRAISER IN BANKRUPTCY

... bankruptcy manager of the debtor was allowed to involve an appraiser to determine the value of the latter's property. The creditor considered that the manager was able to carry out the assessment himself, and there was no need to spend funds from the ... ... volume and heterogeneity of the property, a significant amount of movable property and its use for commercial purposes. The district court recalled that the involvement of additional forces on the part of the anti-crisis manager is possible only in a ...

THE DISTRICT COURT OPPOSED THE TRANSFER OF REAL ESTATE TO GRANDCHILDREN OF DEBTOR BY GIFT

... exclude the entire property complex from the bankruptcy estate, including land, the area of ​​which significantly exceeds the size of the building. As for the signs of insolvency, at the time of a transfer of real estate, according to the district court, there still were some. The creditor challenging the transaction was the bank with which the debtor entered into a surety agreement. At the same time, the main borrower was a company, in which the debtor was the only participant. At a time when the borrower has already begun to ...

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

... 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 a situation, other legal consequences arise, for example, the termination of the bankruptcy case. The cassation instance indicated that the substitution in bankruptcy can only be possible in a situation where the debt ...

BANKRUPTCY OF A CAPTAIN: THE COURT HAS CLARIFIED WHAT TO DO IF THE SHIP ‘HAS SUNK’ AND THE CAPTAIN IS GUILTY

... on the verdict, which confirmed the guilt of the captain in the precarious state of the ship. The court found out that the debtor had violated the rules of the safety of sea transport, as a result of which the damage was caused. Leaving a debt to the creditor, the courts justified this by causing harm by illegal actions of the debtor, but the board of the District court expressed a different opinion. Its judges recalled that the issue of releasing the debtor from the performance of obligations to creditors is related to the way the debtor behaves towards them. Therefore, it does not matter whether the ...

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