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

... Taking into account the circumstances of the case related to the delay in the payment of compensation by the insurer, the courts indicated that the debtor would 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 ...

THE SUPREME COURT ALLOWED TO BANKRUPT FOREIGN FIRMS IN RUSSIA

... register. An attempt to appeal the decision in appeal, and then in cassation, did not affect the course of the process. Opinions on this issue are divided among lawyers. Considering that judicial practice has not yet developed a unified approach to bankruptcy claims, where the defendant is a foreign element, many experts spoke in favor of the cancellation of such a verdict by the Supreme Court. Apparently, Igor Grechanik (the sole owner of the company and a Russian citizen), who filed a complaint with the Armed Forces of the Russian Federation, counted on this outcome of the case. However, his application was refused. Judge Samuilov,...

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