SAC reduces risks for banks

A decree of the Plenum of the Supreme Arbitration Court (the “SAC”) stipulates that a bank which has received money from a future bankrupt company is not obliged to have known that said company was on the verge of bankruptcy. When disputing such a transaction, the plaintiff bears the responsibility of proving this fact. The SAC also stipulates that the current business entity is responsible for extinguishing such credit. These operations are more difficult for the bankruptcy receiver to dispute in order to return monies to the bankruptcy creditor, explains Artur Zurabyan of ART DE LEX.