Helped a client keep an expensive car as collateral
We handled a debt collection case secured by an expensive car. The borrower did not pay back the debt, so the process of foreclosure of the car began.
However, at the first hearing the court dismissed the claim because it considered it unproven that at the time of the pledge agreement the car belonged to the defendant and existed at all.
The pledgor caused additional difficulties in this process. He deposited into our client's account an amount equivalent to the value of the pledge - several tens of millions of rubles. At the same time, the mortgagor believed that his obligations had been terminated.
However, we managed to turn the situation in a favorable direction for the client. We proved that the transfer of money to our client was not the fulfillment of the pledger's obligations, but the payment of part of the principal debt. We also proved the groundlessness of the lower courts' conclusions that there was no subject of pledge.
Thus, our client received a significant amount as repayment of a portion of the debt and at the same time retained the collateral.