The lawyers of EDAS Law Bureau, led by bankruptcy practice partner Evgeny Branetsky, defended in the court of appeal the decision earlier made by the Moscow Arbitration Court on refusal to recover losses in the amount of 117 million rubles from the liquidation commission of Grand Invest Bank JSC.

The creditor, whose claims were not included in the register of creditors ‘ claims of Grand Invest Bank JSC, being in voluntary liquidation, considered that the members of the liquidation commission carried out the liquidation in violation of the procedure established by the Law “On State Registration of Legal Entities” (the bank allegedly could not be liquidated if the creditor’s claims were declared) and, thereby, caused losses to the creditor in the amount of their claims against the bank.

However, the courts reasonably concluded that the liquidation of credit institutions is carried out taking into account the features established by the Law “On Banks and Banking Activities” and the regulations of the Bank of Russia, which allow for registration actions related to the exclusion of the bank from the Unified State Register of Legal Entities, even if there are declared claims of creditors, which, however, were not included in the interim and liquidation balance sheets of the bank.