As part of the bankruptcy case, a creditor’s application was handled that concerned inclusion in the register of creditors’ claims of the amount of more than RUB 60 million received by the debtor under a loan agreement. Despite the fact that KIAP associates who acted for the competing creditor consistently insisted on the applicant’s affiliation with the debtor and the lack of evidence proving that the loan was real, the courts of first and appellate instance satisfied the application in its entirety.
In the court of cassation instance, KIAP team managed to convince the panel of judges that the circumstances of granting the loan had been improperly verified, and the parties were affiliated. The dispute was sent for re-examination.
At the new trial the court of the first instance once again included the creditor’s claims into the register, ignoring instructions of the cassation and arguments of the creditors. However, in the appellate court, KIAP associates successfully challenged a substantial body of the creditor’s evidence and convinced the panel of judges that the issued order was illegal. The appellate court accepted the argument that the parties were affiliated and no proper evidence of granting the loan existed, reversed the order of the trial court, and dismissed the creditor’s application. The court of cassation instance accepted the position of the appellate instance and left the court order unchanged.
The dispute is noteworthy because, after first reversing and returning the case for re-examination, the trial court continued insisting on its original position.
Thus, based on the outcome of KIAP associates’ efforts, the debtor failed to increase the non-arm’s length payables by RUB 60 million, while the Firm’s Principal retained its stake in the creditors’ register.
Participants: