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THE ACTUAL BENEFICIARY OF THE BUSINESS CAN RESPOND WITH LOSSES TO THE CONTROLLED PERSON IN HIS PERSONAL BANKRUPTCY

... the claim in the debtor's register (case no. A60-49300/21). The courts of two instances refused to satisfy the application, citing the fact that there was a lease relationship between the debtor and the creditor, but the fact that the debtor caused losses to the creditor has not been proven. The cassation sent the dispute for a new consideration, pointing out that as one of the reasons for refusing to satisfy the stated claims for recognizing the debtor's debt to the creditor as justified and including ...

The loss of the possibility of collecting accounts receivable due to the fault of the manager entails losses

... instances concluded that the defendant improperly fulfilled his obligations to recover the debtor's receivables. The courts stated that the applicant did not prove the fact of the unconditional loss of the possibility of collecting receivables into the bankruptcy estate of the debtor and, accordingly, the fact of causing losses to the debtor in the specified amount as a result of the defendant's unlawful inaction. Similarly, the courts considered the applicant's claim to declare illegal the defendant's inaction during the period of performance of the duties of the bankruptcy ...

IF THE HEAD OF THE DEBTOR TRIES TO COLLECT DOCUMENTS, LOSSES FOR THEIR NON-TRANSFER CANNOT BE RECOVERED

... The courts of three instances, satisfying the requirements, proceeded from the presence of a causal relationship between the actions (inaction) of the defendant for failure to ensure the safety of accounting documents, non-transfer of property to the bankruptcy estate and losses on the debtor's side in the amount of reserves reflected in the debtor's balance sheet for 2018. The Supreme Court referred the defendant's complaint to the board for consideration and noted the following: The applicant indicates that the enforcement ...

LOSSES FOR THE PURCHASE OF NEW YEAR'S GIFTS FOR CHILDREN

... the fact that these New Year's gifts were purchased as an incentive measure for the debtor's employees, this information was brought to creditors at the meeting, which approved the manager's reports on the expenditure of funds received by the debtor's bankruptcy estate. The cassation supported the court of appeal, noting that the defendant did not provide documents confirming the legality of the purchase of gifts, as well as information about which employee they were issued to, and documents confirming ...

SUPREME COURT: THE INSURANCE COMPANY IS RESPONSIBLE FOR THE BANK'S LOSSES, NOT THE BORROWER

... subsequently be able to file a claim for damages to the insurance company. However, the Supreme Court of the Russian Federation did not agree with the arguments of the lower courts. He recalled that it is the insurance company that should be responsible for losses due to late payment of the loan repayment. The debtor is not responsible for improper performance by the insurer of its obligations under the insurance contract, where the beneficiary is the bank. Since the legal dispute between the insurance company ...

THE AMOUNT OF LOSSES FROM THE MANAGER MAY EXCEED THE AMOUNT OF THE CREDITOR'S CLAIMS

... of losses from the manager, which was satisfied by the courts of three instances. In particular, the appeal rejected the arguments of the manager that the claim for recovery of losses from him cannot exceed the amount of creditors' claims, and that losses in this amount are not subject to recovery in the debtor's bankruptcy estate, since the manager did not specify the regulatory justification for this argument.

EX-MANAGERS OF TMK FROM PRIMORYE WERE JOINTLY PUNISHED BY 65.6 MILLION FOR LOSSES

On March 13, the appeal issued a ruling on the bankruptcy case of TMK (Pacific Bridge Construction Company). The company was declared insolvent in 2015. Now, the arbitration has jointly recovered 65,687,880.70 rubles from its former KU (bankruptcy managers) as losses inflicted on the organization due to missed deadlines (No. A51-31981/2014). Initially, Dmitry Lizunov was approved by the KU. In the spring of 2016, his duties were terminated. From May 2016 to October 2018, the functions of the KU were performed ...

THE RECOVERY OF DAMAGES FROM THE ARBITRATION MANAGER DOES NOT INDICATE THE WILLFULNESS OF VIOLATIONS

As part of the bankruptcy proceedings, the arbitration manager was subject to compulsory insurance compensation for losses to the creditor. The insurer, based on this fact, filed a claim with the court for the recovery of material assets from him by way of recourse. During the trial, the claim was satisfied by three instances. The courts relied on the bankruptcy ...

THE DISTRICT COURT CONSIDERED THE RIGHT OF SUBSIDIARY DEFENDANTS TO CLAIM DAMAGES

... the organization Mars Urumkanov and Daria Zamyatina. In the case, they were held by the defendants in the framework of a separate dispute on the involvement of a subsidiary. In August 2022, the Pharmaceutical Plus Analytics company, which is the bankruptcy creditor of Russo Chemi M, applied to the capital arbitration. The organization demanded to recover losses from several affiliated structures (Russo Pack, Russo Logistics, Russo Industrial, etc.), as well as from a number of individuals who controlled the activities of the bankrupt enterprise in the past. The court accepted the petition for production....

THE ARBITRATION MANAGER OF THE LOGOCOMPLEX REQUIRES 63 MILLION FROM THE PREDECESSOR

... former manager of the "Emerald City" Evgeny Otchiev is currently undergoing bankruptcy proceedings. On February 21, the Arbitration of Karelia declared him bankrupt (case A26-489/2023). In the application filed on January 17, 2023, the former Bankruptcy Trustee indicated the existence of a debt of 7,518,980.3 million, which arose due to the recovery of losses from him in connection with his work as an arbitration manager. Until August 1, the court introduced the procedure for the sale of his property. Photo by Freepik

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