Arbitration manager will not receive remuneration, if the creditors’ claims are satisfied at the expense of payoff

As the Supreme Court explained, satisfaction of creditors’ claims by way of making an accord and satisfaction agreement essentially is a measure of last resort, a last-evil solution regarding the debtor’s property that the arbitration manager was unable to realise.

Attorney, Head of Litigation and International Arbitration at ART DE LEX Artur Zurabian noted that the determination of the Russian Federation Supreme Court has once again confirmed the previously identified fundamental position of courts that an arbitration manager can be qualified for obtaining the full amount of the percentage stipulated by the bankruptcy law only in the case, if the bankruptcy assets became complete as a result of their affirmative acts. «However, if such completion or satisfaction of creditors’ claims resulted from a proactive position of creditors in bankruptcy or even in spite of the arbitration manager’s inactivity, the amount of the arbitration manager’s remuneration set force by law may be reduced or even reduced to zero», – he supposes.

Click here for more information: www.advgazeta.ru