As a result of the legal submission prepared by the BGP Litigation lawyers, the court has partially satisfied the bankruptcy receiver’s claim to challenge the debtor’s transactions with a large development company, ordering the company to pay more than RUB 300 million.
The bankruptcy receiver of the Sky House developer filed a claim challenging 111 work completion certificates (KS-2 forms) issued between 2010 and 2019 under the general construction contract. The case files exceeded 650 volumes. A forensic expert appraisal was ordered in this dispute, concluding that the price of works under the contested certificates exceeded the market value of the works by 20.59%. Our lawyers have managed to persuade the court that, taking into account the scope of the works performed, the excess of cost over the market value was significant, thus demonstrating the need to invalidate the transactions in question as non-arm’s length transactions. Moreover, our team has successfully proved that the periods of suspicion for transactions should be deemed to run from the date when the first bankruptcy case was initiated against the debtor in 2013 (to be later terminated), rather than from the date of initiation of the second bankruptcy case where the receivership was introduced.