Defended the client's claims against unreasonable subordination
One of our client's shareholders was declared bankrupt. In this bankruptcy, we represented the joint-stock company and filed claims in the amount of about 100 million rubles.
The courts recognized the claim itself, but lowered the priority of its satisfaction (subordinated).
Claims are subordinated when the creditor had control over the debtor before the bankruptcy. Such a creditor is allocated the risk of the debtor's bankruptcy and cannot claim its debt before the remaining creditors have been settled.
In our case, the courts applied subordination because they came to the absurd conclusion that a citizen was controlled by a legal entity.
However, in the cassation we proved that the company cannot be a controlling person in relation to an individual. Consequently, the rules on subordination of claims are also unreasonably applied.
On a new trial, our client's claim was not subordinated and took a fair position on the creditors' register.