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Russian Supreme Arbitration Court has explained the rules for paying VAT when an insolvent debtor’s property is disposed of

2013-02-27

For the attention of company managers and financial, tax, legal and litigation departments.

Pepeliaev Group advises of the publication, on 13 February 2013, of Resolution No. 11 of the Plenum of the Russian Supreme Arbitration Court (SAC) dated 25 January 2013 “On paying value added tax when the property of an insolvent debtor is disposed of”. This resolves, to the benefit of creditors and buyers of bankrupt companies’ property, issues relating to the procedure and regime for paying VAT.

Filed under:

Russia, Insolvency & Restructuring, Litigation, Tax, Pepeliaev Group, Bankruptcy, Debtor, Value added tax

Authors:

Yulia Litovtseva , Yuri Vorobyev

Location:

Russia

Firm:

Pepeliaev Group

Overview of the case law of the Russian Supreme State Commercial (Arbitration) Court in relation to applying insolvency (bankruptcy) legislation

2013-05-30

Specifics of enforcing the consequences of the invalidity of a transaction whereby a pledgeholder leaves pledged property in its ownership.

(ruling No. VAS-14907/11 dated 20 March 2012)

By the above ruling, the Supreme Arbitration Court (SAC) has actually reinforced the specifics of enforcing the consequences of a transaction transferring a debtor’s pledged property being invalid if it is not possible to restore the parties to their initial position.