The bankruptcy case examination revealed loan agreements between the debtor and an affiliated person totaling to more than RUB 600 million. KIAP was tasked with litigation in challenging said transactions and obtaining their invalidation.
The court of first instance refused to recognize the transactions as invalid, deeming that, at the time of challenging, the transactions did not harm the interests of creditors, since the creditor under the transactions had not applied to court for inclusion in the register.
In the court of appellate instance, KIAP’s associates managed to convince the court that harm was inflicted to creditors and to prove the grounds required to invalidate the transactions. As a result, transactions in excess of RUB 600 million were invalidated, allowing the Firm’s Principal to retain control over the bankruptcy proceedings.
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