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

The Economic Board considered the complaint of the debtor and the tax authority against the decisions of the courts of appeal and the district, by which the claims of the creditor ... ... 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 ...

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

... 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 ... ... number of theses that were not taken into account by the appeal. First of all, the board recalled that only the fact that the debtor and the creditor were affiliated could not serve as a basis for subordination of the claims of the latter. As for the issuance ...

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