RESOLUTION OF THE PLENUM OF THE SUPREME ARBITRATION COURT OF THE RUSSIAN FEDERATION

of April 30, 2009 No. 32

About some questions connected with contest of transactions on the bases provided by the Federal Law "About insolvency (bankruptcy)

Due to the questions arising in court practice connected with contest of transactions on the bases provided by the Federal Law "About Insolvency (Bankruptcy)" and for the purpose of ensuring uniform approaches to their permission the Plenum of the Supreme Arbitration Court of the Russian Federation, being guided by article 13 of the Federal constitutional Law "About Arbitration Courts in the Russian Federation", decides to make to Arbitration Courts the following explanations.

General questions

1. In provided by the Federal Law "About Insolvency (Bankruptcy)" * (1) cases the arbitration manager has the right to make on its own behalf claims for recognition of transactions of the debtor invalid and application of effects of their invalidity, and also claims for application of effects of invalidity of insignificant transactions * (2) (Item paragraph two 1) Articles 66, the paragraph of the seventh of item 4 of Article 83, the paragraph the fifth Item 1 of Article 99, paragraph two of Item 7 of Article 103, paragraph two of item 4 of article 129 of the Law).

As recognition of the invalid transaction of the debtor influences the rights and the debtor's obligations, and application of effects of its invalidity directly assigns to it obligations, in such cases the debtor shall be the defendant or one of defendants in the claim of the arbitration manager.

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