FBK Legal Practice Head Vladislav Korneychuk Addresses Key Bankruptcy Practice Matter
PRObankrotstvo reports that the Judicial Chamber on Economic Disputes of the Supreme Court of the Russian Federation will hear a cassation appeal on 29 January 2026 filed by Oleg Senyushin regarding court rulings in the bankruptcy case of Kapital Stroiindustriya LLC (Case No. A56-58832/2019).
Vladislav Korneychuk comments:
‘The dispute centres on a key issue in bankruptcy practice: the bankruptcy receiver's duty to settle with creditors as quickly as possible versus the mandate to act in good faith and with due care. On the one hand, Article 142 of the Bankruptcy Law obliges the receiver to immediately distribute the bankruptcy estate. On the other hand, there remains the risk that a court decision could be overturned on cassation appeal, which could make a subsequent reversal of enforcement (recovery of funds) virtually impossible.
The Supreme Court's ruling on this issue may establish a standard of “enhanced diligence” for receivers. Should the court explicitly tie the potential reversal of a decision and the impracticality of reversing enforcement to the receiver's risks and liability, then—contrary to the statutory requirement to distribute funds promptly—the receiver will likely have to resort to reserving funds until the appeal window closes or the appeal is considered.
Previously, in its ruling No. 304-ES19-5626(3) dated 27 July 2020 in Case No. A46-14706/2015, the Supreme Court of the Russian Federation clarified that the possibility of reserving funds is permissible only if its purpose and grounds are disclosed and if complete and reliable information justifying the necessity of such reservation is presented to the creditors and the arbitration court. However, the current legislation does not contain a detailed procedure for such reservation in case of a reversal of enforcement’.