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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 allowed control of creditors over the debtor's expenses

... estimates to the meeting of the debtor's creditors. However, later this 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 under consideration, the district court concluded ...

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 of the case. The judges indicated that the actions of the manager had never ...

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 for an installment plan due to the impossibility of a one-time execution and the presence of a number of financial difficulties. His arguments boiled down to the significance ...

DISTRICT COURT NAMED A PERSON RESPONSIBLE FOR SAFETY OF THE DEBTOR’S DOCUMENTS

The district court has recently considered a case on the application of the bankruptcy manager for coercion to transfer the debtor's documentation to him. Usually the head of the bankrupt company acts as the defendant in such cases, but in the case under consideration, the situation was different. The manager turned his claims to the liquidator of the organization, to which ...

How to invalidate a deal with the debtor's foreign real estate

The Arbitration Court of the Moscow District considered the case based on the complaint of a debtor, whose transaction, at the request of a bankruptcy trustee, was declared invalid by the lower authorities. The trustee considered the rights of creditors violated in ... ... disputed issue, the courts intentionally did not involve the guardianship authorities into the case. Considering the complaint, the district court listened to the arguments of the cassator, pointing out the need to cancel the decisions made by the lower instances....

The court recovered remuneration for a bankruptcy trustee from the Central Bank of Russia

... of good faith in the procedure. However, the courts of the first and appeal instances rejected the claims, citing the fact that the legislation does not provide for the possibility of collecting debt from the controlling authority of the debtor. The District Court disagreed with this interpretation of the legal norm, indicating that if the debtor's property was insufficient to pay off the debt to the trustee, payment for the applicant's services should be made at the expense of the initiator of the bankruptcy case, which turned out to be the Central Bank. Now, the trustee’s application will be re-considered in the court of first instance, which must thoroughly understand the volume of the financial claims filed by him and issue a judicial act taking ...

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

... the arbitration court at the request of the creditor. The claim was filed because the bankruptcy trustee repaid current payments in favor of a third party. Obligations in... ... considering the claim, the courts of the first two instances rejected it, however, the district court found that the colleagues did not understand the situation sufficiently... ... boiled down to the fact that the legal entity that sold the right to claim against the debtor and the debtor himself were affiliated persons. Consequently, upon establishing...

THE COURTS HURRIED TO BRING THE HEAD OF DEBTOR TO SUBSIDIARY LIABILITY AND MADE A MISTAKE

... untimely transfer of the debtor's documentation, causing harm to creditors by a number of transactions and failure to file a bankruptcy petition in a situation where there was a debt to one of the creditors. The judges of the first and appeal instances considered the circumstances listed by the trustee to be proven and brought the former head of debtor to justice, but the district court indicated that the conclusions were premature. It was noted by the cassation that the argument about the untimely ...

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

... 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 or invalidated, and there was no evidence of ...

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