Bankruptcy of the IFC. Inclusion in the register of creditors' claims. Disadvantages of not having deposit insurance. Increased investment risks. Deposits, loans in microfinance companies.
A monitoring procedure has been introduced in the microfinance company Home Money. This is one of the stages of the bankruptcy procedure. At the end of the observation, a decision will be made on the future of Home Money. The application to the court was sent at the initiative of the Deposit Insurance Agency. The reason for this was the existing debt of the microfinance company to the Interkommerts bank in the amount of 2.8 billion. The bank is currently undergoing bankruptcy proceedings, and the DIA is its bankruptcy trustee. This debt was included in the register of claims, however, this is not the only debt of the IFC. The total amount of debts only to banks is 3.25 billion rubles, and individuals also appear among the creditors. Representatives of Home Money do not agree with the beginning of the bankruptcy procedure, which they announced in court, arguing that there are accounts receivable in the amount of 15 billion. IFC intend to start collecting payments from counterparties and pay off their debts.
The parent company of Home Money, Adela Financial Retail Group, was located in the British Virgin Islands. Through the efforts of creditors, it has already been declared bankrupt, and the procedure for its head, Yevgeny Bernshtam, began in January. The initiator of the procedure is also the DIA, since it acts as a bankruptcy trustee of the Russian Trust Bank. The Financial Department owes him 10 million, and Bernshtam acted as a guarantor for the loan. In this case, the court is scheduled for June 9, where a debt payment plan will be presented, if the plan is not feasible, then the defendant's property will be sold. But even here, not everything is so simple, all of Bernshtam's assets have already been arrested. There are a lot of contenders for the property of a businessman, in addition to the already well-known Interkommerts and the Russian Trust Bank, his wife filed a lawsuit for the division of property, and the bailiffs have enforcement orders in the amount of almost 400 million. The representative of the DIA claims that all this will not prevent the Businessman from answering for his debts, since during debt restructuring, the previously imposed bailiffs' arrests are removed.
Lawyer comment:
In fact, I personally do not know the bankruptcy of the IFC, when individual creditors received how much significant satisfaction of their claims. One of the disadvantages is the lack of similar legal regulation with bank deposit insurance. Because of this, ordinary individuals are in no way and in no way insured when concluding contracts with the IFC. Accordingly, the extent to which such awareness and understanding of risks is present among such creditors is a big question. In my opinion, it is completely absent, otherwise there is no way to explain such a development partly of the IFCs themselves, as well as a large number of individual creditors of the IFC.
March 04, 2019
David Glickstein
Please note that in 2018 the law firm Vetrov & Partners was marked by the industry rating of law firms Pravo.ru-300 in the nomination Arbitration Proceedings. This allowed us to enter the TOP-50 regional companies throughout Russia in this category.
In the event that your litigation or other dispute, contractual work or any other form of activity concerns the issues discussed in this or our other material, we recommend that you check and make sure that your legal position complies with the latest changes in practice and legislation.
We will be happy to provide you with legal assistance regarding the minimization of legal risks and available opportunities. We will try to find a solution that is right for you.
Call +7 (383) 310-38-76 or write to info@vitvet.com.
We recommend that you read our blog dedicated to legal and judicial cases (arbitration practice) and read the materials in the "Articles" section.
Our law firm provides various legal services in different cities of Russia (including Novosibirsk, Tomsk, Omsk, Barnaul, Krasnoyarsk, Kemerovo, Novokuznetsk, Irkutsk, Chita, Vladivostok, Moscow, St. Petersburg, Yekaterinburg, Nizhny Novgorod, Kazan, Samara, Chelyabinsk, Rostov-on-Don, Ufa, Volgograd, Perm, Voronezh, Saratov, Krasnodar, Togliatti, Sochi).
We will be glad to see you among our clients! Call or write right now!
Phone +7 (383) 310-38-76
Email info@vitvet.com
Law firm "Vetrov and partners"
more than just legal services
WhatsApp
Telegram