10.11.2022 | News
BGP Litigation lawyers are providing bankruptcy support for an elite real estate developer to a sum exceeding RUB 20 billion

Lawyers of the BGP Litigation Bankruptcy Practice are acting for the bankruptcy receiver and providing comprehensive support for the bankruptcy procedures of the developer of the Sky House premium class residential complex in central Moscow, the creditors’ claims exceeding RUB 20 billion. As part of the procedures, the bankruptcy receiver filed a claim disputing statements and payments under an agreement on performance of technical supervisor functions executed between 2010 and 2019 to a total of RUB 200 million.

During the first hearings on the case, the first instance and appeal courts dismissed the claim but, thanks to the position put forward by the BGP Litigation advocates, the cassation court reversed the acts and referred the case for reconsideration. During the second round, the lawyers managed to prove that some of the disputed payments should be invalidated as being transactions with unfair preference. As a result, the first instance court granted the bankruptcy receiver’s claim in part.

The BGP Litigation lawyers are currently conducting a comprehensive challenge to transactions worth a total of RUB 6 billion. Previously, thanks to their work, over 250 apartments were handed over to housing equity holders, parking places worth more than RUB 200 were returned to the bankruptcy estate and RUB 427 million recovered from the debtor as a consequence of transaction invalidity.