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UNJUSTIFIED CANCELLATION OF THE RESTRUCTURING PLAN IS UNACCEPTABLE

In the framework of the bankruptcy case (No. A73-13943/20), a plan for restructuring the debts of a citizen was approved between the debtor and the bank, the cancellation of which was requested by the bank in connection with the improper performance of the debtor's obligations. The courts of two instances agreed with the ...

BUSINESS REPAID 19 BILLION OF TAX DEBTS DUE TO RESTRUCTURING

In six months of 2023, the business repaid 19 billion rubles of tax debts due to the restructuring procedure. This is reported by the press service of the Federal Tax Service (FTS). The results of the first half of this year are almost 1.5 times more than in the same period of 2022. In addition, for six months in the amount of over ...

ALEXEY KHOTIN'S DEBTS WILL BE RESTRUCTURED

On October 9, 2024, the Moscow Arbitration Court (AS GM) issued a ruling on the restructuring of the debt of entrepreneur Alexey Khotin to creditors. The judicial act itself has not yet been published in the judicial file (case no. A40-236175/2022). According to RBC, Vladimir Khmelev was approved for the role of financial asset ...

MOST RUSSIANS INITIATE BANKRUPTCY ON THE ADVICE OF BORROWERS

... Sberbank, emphasizes that almost every debtor has the opportunity to get out of debt without going through the insolvency procedure. Experts remind that it is possible to settle debts through obtaining credit holidays, concluding a settlement agreement or restructuring.

VTB BANKRUPTS THE FOUNDER OF INTECH BECAUSE OF THE LOAN GUARANTEE

On March 18, 2024, the arbitration court in St. Petersburg issued a ruling on the introduction of bankruptcy proceedings for Sergei Semkin (case No. A56-80247/2023). The restructuring of his debts has now begun in relation to the founder of the Intech holding. In the third turn of the register, the court included the principal debt to VTB Bank in the amount of over 275 million rubles and a penalty in the amount of 13....

IRISH PHARMACEUTICAL COMPANY GOES BANKRUPT FOR THE SECOND TIME

Mallinckrodt Pharmaceuticals has announced another restructuring over the past few years. The firm and a number of its structural units appealed to the American justice, intending thus to reduce their debt to creditors by $ 1.9 billion. According to American journalists, to do this, the company must conclude ...

THE EX-GOVERNOR OF THE CHELYABINSK REGION WAS DECLARED BANKRUPT

... to him, the former governor lives outside the Russian Federation solely at the expense of the pension he receives (237 thousand monthly). However, the court rejected the application and refused the request for an installment plan. The procedure for restructuring its debt has been approved until November 20. The next hearing is scheduled for November 13. The court entrusted financial management to Ivan Vasin. Photo: Freepik

THE EX-HEAD OF THE BANK "CENTURY" WAS DECLARED BANKRUPT

... Court of the capital declared the former top manager of the bank "Century" Andrey Nikitin insolvent (case no. A40-71/2023). The bank's claim in the amount of over 4 billion rubles was entered into the register of creditors' claims. Debt restructuring has begun in relation to Nikitin. The Deposit Insurance Agency (DIA) noted that the introduction of bankruptcy proceedings against the ex-head of the bank "Vek" will increase the likelihood of funds being returned to the bankruptcy ...

NO MORE PARTIES. A CHAIN OF HOLIDAY STORES ON THE VERGE OF BANKRUPTCY

... the growth of debt obligations. The company has started preparing for a possible bankruptcy, which may result in a change of owners. Creditors of Party City (including Capital Group Cos Inc., Silver Point Capital) have begun negotiations on a possible restructuring. The result of this may be the transition of the retailer under the control of creditors and the exchange of debt for shares. It became known that the company hired a number of firms specializing in bankruptcy and corporate governance (Moelis ...

THE SUPREME COURT HAS RELEASED THE BANKRUPT'S EX-WIFE FROM A JOINT OBLIGATION

... Supreme Court in December 2022 had to consider the bankruptcy of one of the former spouses for the obligations of the other. The lack of uniformity in such lawsuits led to the fact that the lower courts had previously introduced the bankruptcy procedure (restructuring), considering article 45 of the Family Code as the basis for joint and several liability for obligations (case no. A71-2503/2021). The Temnikovs (Elena and Yuri) have been married since 1988. In 2013-2015, the spouse got into debt, having ...

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