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THE SUPREME COURT WILL LOOK INTO THE POSSIBILITY OF INDEXATION IN BANKRUPTCY

... claim was satisfied by the courts, but a bankruptcy case was initiated against the defendant. The plaintiff appealed to the court with an application for indexation of the awarded amounts, which was satisfied by the courts of three instances. The Supreme Court of the Russian Federation referred the company's complaint to the judicial board, reflecting in the definition the arguments of the cassator that since the introduction of bankruptcy proceedings against the debtor, indexing is not applied.

THE SUPREME COURT REJECTED A $10 MILLION LAWSUIT AGAINST THE BANKRUPTCY TRUSTEE

... claim for recovery of funds from the manager by way of recourse, referring to the fact that in the framework of the debtor's bankruptcy case, losses were recovered from the manager for violating the procedure for settlements on utility bills, and the ... ... claim, pointing out that the manager's guilt in causing losses was established by a judicial act that entered into force. The Supreme Court of the Russian Federation, refusing to satisfy the claim, noted that the above–mentioned judicial act did not establish ...

SUPREME COURT : THE PARTICIPANTS OF THE DEBTOR-BANKRUPT HAVE PRIORITY TO SATISFY THE CLAIMS

... not see grounds for satisfying the application, considering that the former participant does not have priority over the other participants of the debtor, and his claim should be repaid in the general order of distribution of the liquidation quota. The Supreme Court of the Russian Federation did not agree with this approach and noted that the procedure for satisfying the claim for payment of the actual value of the share is not directly regulated by the Bankruptcy Law. At the same time, such a claim, which has a corporate nature, cannot compete with the claims of creditors included in the register. Determining the ratio between the distribution of the liquidation quota and the payment of the actual value ...

THE SUPREME COURT TIGHTENS THE RULES FOR ADVANCING BANKRUPT TRADES

If the participant of the failed auction refuses to conclude the contract, the deposit will not be returned. This conclusion was reached by the Supreme Court of the Russian Federation when considering a cassation appeal in the framework of a dispute on recovery in favor of the sole bidder held in the framework of the bankruptcy case of the deposit (case No. A56-16535/20). The plaintiff transferred the deposit to participate in the auction for the sale of the property of the insolvent debtor. The auction was declared invalid due to the admission of one participant ...

THE SUPREME COURT ASSESSED THE DISCOUNT IN THE SETTLEMENT AGREEMENT, TAKING INTO ACCOUNT THE BANKRUPTCY OF ONE OF THE PARTIES

... such an agreement on the debtor's solvency and its assessment for the presence of harm to creditors, since in the framework of a new dispute review, the conclusion of the same settlement agreement will be a priori impossible due to the initiation of bankruptcy proceedings against one of the parties. Thus, the Supreme Court once again stressed that disputes on the recovery of damages, in comparison with other types of litigation, have the least predictable prospects, which is why only a discount at the conclusion of a settlement agreement cannot indicate an ...

A SPECIAL ACCOUNT IS NOT A PANACEA. THE SUPREME COURT ALLOWED TO WITHDRAW FUNDS RECEIVED UNDER STATE CONTRACTS FROM BANKRUPTS

As indicated by the Supreme Court of the Russian Federation in the Review of Judicial Practice of resolving disputes on insolvency (bankruptcy) for 2022 dated April 26, 2023 (paragraph 13), the condition of the contract for settlements through a special account with bank support of the transaction does not separate the funds stored in this account from the creditors' claims. Recall ...

A SPECIAL ACCOUNT IS NOT A PANACEA. THE SUPREME COURT ALLOWED TO WITHDRAW FUNDS RECEIVED UNDER STATE CONTRACTS FROM BANKRUPTS

As indicated by the Supreme Court of the Russian Federation in the Review of Judicial Practice of resolving disputes on insolvency (bankruptcy) for 2022 dated April 26, 2023 (paragraph 13), the condition of the contract for settlements through a special account with bank support of the transaction does not separate the funds stored in this account from the creditors' claims. Recall ...

SUPREME COURT INTERESTED IN FAKE LOAN IN BANKRUPTCY CASE

On May 25, 2023, the Economic Board of the Supreme Court of the Russian Federation will consider the complaint of the bankruptcy trustee in the bankruptcy case of the management company "Dom-Master" (No. A40-274335/2019). It refers to a loan agreement that was concluded by the head of the organization, Vladimir Fokin, in order to close the criminal case brought ...

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,...

THE SUPREME COURT WILL SORT OUT THE CONVERSION OF MONETARY CLAIMS OF AN EQUITY PARTICIPANT TO A BANKRUPT DEVELOPER

... requirements of construction participants. After the transfer of the developer's rights to the LLC, the creditor filed the above application, which was refused by the courts of three instances. The complaint was submitted to the Judicial Board of the Supreme Court of the Russian Federation, which in its ruling drew attention to the arguments of the creditor that her will was directed to obtaining ownership of the apartment paid for under the terms of the contract. Referring to the provisions of the Bankruptcy Law, she believes that she is a participant in the construction, in connection with which her claim is part of the obligations to be transferred to the LLC. The fact that this requirement was taken into account as monetary and did not pass ...

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