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Supreme Court of Russia resolved the issue of initiating bankruptcy due to deed of assignment

The Economic Board resolved the case on the complaint of the creditor, whose claims for further consideration of the debtor's insolvency case were rejected. The problem was that the applicant had no outstanding debt, and three lower authorities considered that it was not possible to initiate proceedings way without it. Initially, the debtor's overdue obligation to the bank arose, and the bank subsequently signed an assignment agreement with an ordinary legal entity. It was the fact that the applicant...

FAS declares war on insurance slavery

The Federal Antimonopoly Service has prepared a document providing for the borrower's right to choose an insurance company when applying for a loan. What is more, the right to replace the insurer after signing the loan agreement without worsening the conditions of it is also secured. The innovation also provides for the obligation of banks to provide a list of insurers with whom it is possible to conclude an agreement. At the same time, insurance companies themselves ...

What laws come into force in December

... Russia, and the most significant of which are here in our selection. Banks will no longer be able to ‘put marks’ against the borrowers’ names We are talking about the marks of the borrower's consent to provide him/her with additional services in the loan agreement. At the moment, banks can put such ‘tmarks’ on their own, however, after the entry of the law into force, the borrower will have to personally do this and decide what additional services he needs. The norm is aimed at combating credit organizations,...

THE SUPREME COURT OF RUSSIA CLARIFIED WHO SHOULD BE CHARGED WITH A BURDEN OF PROVING WHEN CHALLENGING A DEBT

The Supreme Court considered the case on the inclusion of claim of one of the creditors into the Register of creditors’ claims. The debt was based on a loan agreement and formed a controversial attitude of the lower courts to the legal situation. The claim was satisfied in the first and cassation instances, but the appeal has rejected it. The Supreme Court of Russia canceled all three decisions, sending ...

THE DISTRICT COURT PUT AN END IN THE CASE OF HEIRS OF THE DEBTOR AND CREDITOR

The unusual legal situation had to be resolved by the Arbitration Court of the Moscow District. It unfolded in the insolvency case of the debtor's heiress, which in turn was initiated by the creditor's heiress. Initially, two spouses (the deceased creditor and his wife) borrowed a large sum of money from the applicant's husband in the present case. He did not pay the money out and then died. The inheritance was opened, and the debt under the contract passed to his wife. After that, one of the...

THE COURT DECLARED BANKRUPTCY OF A MARRIED COUPLE DUE TO THE COMMUNITY DEBT

The case on declaring bankruptcy of two individuals at once – a married couple and co-borrowers under a loan agreement concluded with a bank - was referred to the arbitration court. As it usually happens, the husband and wife signed an agreement under which they took the money, having pledged the property they owned. At first, the debt was regularly ...

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