20.12.2018 TUSHINSKY DISTRICT COURT OF MOSCOW FULLY SATISFIED OUR CLAIM, HAVING RECOVERED MORE THAN 27 MILLION RUBLES IN FAVOR OF OUR CLIENT FROM AN UNSCRUPULOUS BORROWER AND HIS GUARANTOR.

In order to enforce the debt arising from loan agreements, we were approached by a client who concluded two loan agreements with a friend in January 2017 for a total of ~ 20 million rubles.

As it often happens, by the date the money was refunded, the debtor and his guarantor stopped contacting our client and did not return to him either the Principal amount of the debt or the interest for using the money.

Having undertaken to analyze the documents in the case, our lawyers monitored the debtors using open databases and found out that in 2016 the debtor and his guarantor were declared insolvent (bankrupt) by the Moscow Arbitration Court.

Thus, the debtors, without notifying our client of their bankruptcy status, had entered into loan agreements and accepted funds.

Under such circumstances, we filed a claim in  Tushinsky District Court of Moscow to recover current payments in accordance with Article  5 of the Federal Law “On Insolvency (Bankruptcy)” dated 10.26.2002 N 127-FL.

Unfortunately, at present, courts of general jurisdiction rarely encounter legal relations regulated by the Federal Law “On Insolvency (Bankruptcy)” of October 26, 2002 N 127-FL, which often entails their incorrect interpretation of the rules of law related to bankruptcy.

In our case, during the initial consideration of the claim, Tushinsky District Court of Moscow, having not properly understood the circumstances of the case, considered that the claims of our client should be considered by Moscow Arbitration Court in the framework of bankruptcy cases of debtors and left the claim without consideration, despite of our motivated objections.

Being confident in the correct legal qualification of the relations that arose, we sent a private complaint to Moscow City Court against the ruling of the court of the first instance regarding leaving of the claim without consideration, and also supported its arguments at the hearing.  Moscow City Court agreed with our position, quashed the appealed determination and sent the case for reconsideration to Tushinsky District Court of Moscow.

During the reconsideration of the claim, we supported the claims, provided written explanations on the objections of the financial managers of the debtors, who asked to recognize the loan agreements as null and void and to refuse to satisfy our claims.

In addition, in order to strengthen the evidence base, we questioned a witness who confirmed the actual receipt by the debtor of the funds stipulated by the loan agreements.

On December 20, 2018, Tushinsky District Court of Moscow, having heard the positions of all those involved in the case, fully satisfied our claim, having recovered more than 27 million rubles in favor of our client, including the main debt, interest on the use of funds and forfeit for late payment  debt.

It is worth noting that the recognition by Tushinsky District Court of Moscow of the debt to our client as current will allow him to satisfy his requirements at the expense of the bankruptcy estates of the debtor and his guarantor, formed in the framework of bankruptcy cases, primarily, i.e. befor the distribution of funds between bankruptcy creditors, received as a result of the sale of property of debtors.

Y.S.Bulut , lawyer of MCBA “Bureau of Lawyers “De jure”,  prepared the position on this case and represented the Defendant’s interests in the courts.