FBK Legal has been a sponsor of the Second Practical Conference titled “FinLegal-2019: Litigations, Bankruptcy and Subsidiary Liability in the Financial Sector” held by the Baking Review.
FBK Legal's Head of Practice Marina Balandina has spoken at the session dedicated to disputes with borrowers and counterparties about the problems that creditors face when challenging court orders based on which ungrounded claims were included in the list of creditor claims. She said that paragraph 24 of Resolution of the Plenum of the Supreme Arbitration Court No. 35 is, unfortunately, applied in different ways, first of all, because provisions of that paragraph are designed for an ideal procedural model. Experience has shown that there is little chance to appeal a court order in the court of cassation based on that paragraph (the court of cassation often either dismisses or rules to discontinue the appeal).
“In such a situation the parties, as a rule, go back to bankruptcy and face a real challenge to fight against claims and then a court order. And this takes a lot of time. We can only hope that the latest initiative of the Supreme Court will be used to introduce a uniform procedure for challenging/appealing court orders outside bankruptcy,” she said.
In addition, the conference covered new court precedents and cases, and trends in court decisions related to finance law.