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DISPUTES ABOUT THE SENIORITY OF COLLATERAL CAN BE COMPLEX

In the framework of the bankruptcy case (no. A40-278571/21), the bank appealed to the court to challenge the actions of the creditor aimed at registering a notice of pledge of movable property. In refusing to satisfy the application, the courts of two instances were guided by the fact that the bank's application was aimed at reviewing the judicial act. The cassation sent the dispute for reconsideration and pointed out the following: ...

Bankruptcy law may be adopted in Kazakhstan after killing of five people

... citizens easily turn to the advertising of loans in a difficult financial situation, but they cannot calculate their financial capabilities. The PM’s inquiry says that the high rate of the National Bank provokes debt load, while the litigation between banks and people, as a rule, turns out to be unfair. The bill proposes to set the bar for possible deviation of the property value at the level of 10-15% in its assessment. Considering that the mortgaged property is usually undervalued in the process of signing the contract, such a measure can make lending more transparent for the population and increase the responsibility ...

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