Bankruptcy: clarifications from the SAC

The Scientific Advisory Councils at the district courts made recommendations, including the area of bankruptcy. The relevant documents appeared on the website of the Arbitration Court of the North-Western District (December 2019) and the website of the Arbitration Court of the Ural District (October 2019).

We offer a brief overview of the most interesting recommendations.

SAC at the AC of the North-Western District:

• The inclusion in the register of requirements of construction participants to the bankrupt developer is based on Art. 201.4 of the Bankruptcy Law (paragraph 15).

• After canceling the determination of a settlement, the court should add the relevant information in the public register. The publication of a judicial act is not considered to be the fulfillment of this obligation (paragraph 16).

• A marital obligation to compensate for half of the share in the property is considered to be monetary and may determine signs of bankruptcy along with other claims of creditors (paragraph 17).

• If, after the sale of the property of a citizen, he or she has not been released from fulfillment of obligations, then executive documents may be issued in respect of this citizen (paragraph 18).  

(We cannot but recall that the Supreme Court expressed the same opinion - determination No. 307-ES16-12310 (4) of October 31, 2019).

• Upon termination of the contract concluded at the auction, the money received from the execution is not considered to be the funds, received from the sale of the assets (paragraph 19).

SAC at the AC of the Volga and Ural districts:

• Liabilities from subsidiary liability may be included in the estate (clause 1). (A similar approach of the Supreme Court is in determination No. 303-ES19-15056 of December 16, 2019.) 

• The requirement of the financial manager to exclude the asset from the property stock can be satisfied in case the asset is illiquid (paragraph 2).

• Centralized water supply and sanitation systems, the owner of which is a public body, are not included in the bankruptcy estate (paragraph 3).

• Only the debt that arose prior to the initiation of bankruptcy proceedings and the forfeit that appeared before the start of the first bankruptcy procedure, are included in the CR. Inclusion of these requirements for a period above the above is not allowed (paragraph 6).

• To divide the requirements into current and the requirements of the registry, you need to know the date of the first court ruling on the adoption of any bankruptcy petition against the debtor (paragraph 7).

2437 0