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Bankruptcy of an individual entrepreneur concluded with debt write-off of 10 million rubles
In the practice of the law firm "Palyulin and Partners," a bankruptcy case of an individual entrepreneur has been successfully completed. The case was handled by lawyer Magomedali Aliev, head of the firm's bankruptcy practice. The process was notable for the significant amount of debt written off, exceeding 10 million rubles, in the complete absence of any bankruptcy estate. The primary legal objective was to achieve the discharge of the citizen from obligations under Article 213.28 of Federal Law No. 127-FZ dated October 26, 2002 "On Insolvency (Bankruptcy)," despite active opposition from a major creditor.
The key difficulty in the case stemmed from the objections raised by Sberbank PJSC regarding the application of the debt discharge rule. The creditor insisted that there were signs of intentional actions to withdraw funds, which, if proven, would have resulted in the debt remaining with the debtor after the conclusion of the procedure. The lawyer needed to formulate a legal position based on documented refutation of these claims. Bank account statements were presented to the court, clearly demonstrating the intended use of the credit funds for purchasing goods and equipment for business activities, as well as numerous partial repayments of the debt between August and November 2023.
The Arbitration Court of Moscow, in its ruling, found the creditor's arguments unfounded, noting the absence of any administrative or criminal offenses in the debtor's actions. The court established that the entrepreneur's financial situation deteriorated due to objective reasons, and his conduct did not indicate an intention to evade fulfilling his obligations. The asset realization procedure was completed in a relatively short time – approximately 18 months from its initiation, which can be considered an efficient outcome for a case of this complexity. The complete write-off of the debt, amounting to 9,735,946 rubles 29 kopecks included in the register and 540,988 rubles 75 kopecks of unregistered claims, was made possible by the meticulous preparation of evidence of good faith and active collaboration with the insolvency administrator. This precedent confirms that even in the absence of assets, a competent legal strategy can achieve a fair outcome for honest entrepreneurs facing a difficult financial situation.
