Lawyers of Legal Studio managed to defend the position on recognition of transactions made after the bankruptcy case had been initiated between the Bankrupt Debtor (Client) and its Counterparty, invalid, thereby ensuring reinstatement of monetary claims against the counterparty and their subsequent collection under the unjust enrichment clause, adding to the insolvency estate of the debtor-bankrupt.
When challenging transactions in bankruptcy, the principle “lex speciali derogat legi generali” is applied (“if there is a special law, then the general law does not apply”), which means that the provisions of the Bankruptcy Law have priority over the provisions of the Civil Code of the Russian Federation. However, the legal nature of the security deposit implies the right of the Counterparty in case of violation of the obligations provided for by the contract to deduct the amount of such security deposit, which had been previously submitted by the debtor to the counterparty, towards the fulfillment of the corresponding obligation. Thus, upon the occurrence of bankruptcy, in the absence of signs of a normal business activity, the security deposit loses its legal nature.
Thanks to the correctly chosen strategy, it was possible to add to the debtor’s insolvency estate in the absence of assets and documents.