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

of July 2, 2013 No. 56

About entering of amendment into the resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation of 23.12.2010 No. 63 "About some questions connected using Chapter III.1 of the Federal Law "About Insolvency (Bankruptcy)"

Due to the questions arising in court practice, being guided by article 13 of the Federal constitutional Law of 28.04.1995 No. 1-FKZ "About Arbitration Courts in the Russian Federation", the Plenum of the Supreme Arbitration Court of the Russian Federation decided:  

1. Add the resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation of 23.12.2010 No. 63 "About some questions connected using Chapter III.1 of the Federal Law "About Insolvency (Bankruptcy)" by new Item 12.1 of the following content:

"12.1. In case of consideration of the applications about contest based on Article 61.3 of the Bankrupcy law of payments on debt repayment under the agreement on opening of renewable credit line it is necessary to consider the following.

Under such agreement the bank assumes liability to provide to the borrower money during the stipulated period of time throughout which are allowed periodic or one-time receipt of borrowing facilities by the borrower taking into account limit of debt and partial or complete loan repayment. At the same time the sums granted on the account of loan repayment can be borrowed upon the demand of the borrower without the conclusion of supplementary agreements again if after repayment the general size of debt does not exceed the debt limit set by the agreement.

As in connection with the returns of debt and receipt of the new credits (tranches) happening in the course of agreement performance the size of the obligation of the debtor actually does not exceed the amount of limit of the agreement of renewable credit line, the amount of losses of competitive weight owing to preferential satisfaction of one of creditors regarding principal debt does not exceed the specified crediting limit amount even if in the period of suspiciousness the debtor consistently received and returned several credit trenches.

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