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Supreme Court of Russia resolved the issue of downgrading the claims of an affiliated creditor

... of creditors’ claims. It was formed as a result of the invalidation of the transfer of funds by the creditor in favor of the debtor with the recognition of the operation as compensatory financing. The court of first instance, taking into account the affiliation of parties and their subordination to one beneficiary, satisfied the claim, included the debt in the register, having subordinated it. However, this position did not survive further challenge of the judicial act. The appeal and the district ...

DISTRICT COURT PUT AN END TO THE CASE ON SUBORTINATION OF CREDITORS’ CLAIMS

... introduction of the monitoring procedure, the lender requested that the debt owed to him should be included in the register. The court of the first instance satisfied the application. However, the appeal court canceled the ruling, having found the fact of affiliation between the parties to the transaction. The result of consideration in the second instance was the subordination of the creditor's claims and a court order to pay off the debt to him after all other declared creditors. At the same time, the ...

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