RESOLUTION OF THE PLENUM OF SUPREME ECONOMIC COURT OF THE REPUBLIC OF BELARUS

of October 28, 2005 No. 26

About some questions of application by economic courts of the legislation regulating invalidity of transactions

For the purpose of ensuring the correct and uniform application by economic courts of the legislation in case of the dispute resolution, the transactions concerning invalidity, the Plenum of Supreme Economic Court of the Republic of Belarus, being guided by articles 14-16 of the Law of the Republic of Belarus "About economic courts in the Republic of Belarus" (Vedamasts? Natsyyanalnaga to descent Respubl? to? Belarus, 1999, No. 2, Art. 32),

DECIDES:

1. Owing to provisions of Item 1 of Article 167 of the Civil code of the Republic of Belarus (further - group of companies) by hearing of cases on disputes on invalidity of transactions and effects of their invalidity to economic courts of the Republic of Belarus (further - economic courts) should be guided by the regulations of paragraph 2 of Chapter 9 of the Civil Code, other regulations of Civil Code and other legal acts establishing the bases of invalidity of transactions.

2. According to Item 1 of Article 167 and Article 169 of group of companies the insignificant transaction is invalid owing to the fact of discrepancy to its requirements of the legislation. It is invalid at the time of its making irrespective of recognition her that court. As for the debatable transaction, it can be acknowledged invalid only by a court decision.

3. Owing to item 4 of Article 11 and Article 167 of group of companies economic courts of the rules of jurisdiction having the right with observance to consider claims:

about recognition of the debatable transaction invalid and application of effects of its invalidity;

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