KIAP’s Principal acquired warehouse property with a total value of RUB 115 million. As part of the bankruptcy case, an application was filed to recognize said contract an invalid transaction, citing the entry into such on the threshold of the owner’s bankruptcy at a non-arm’s length price and the privileged position of the Firm’s Principal versus other purchasers.
The Firm’s associates managed to prove that the transaction was made at a price close to the market price, the deviation from the market was not material for the purpose of applying the Bankruptcy Law, it was performed by the parties in full, and the buyer was neither an interested party nor affiliated with the seller. As a result, the application was dismissed.
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