Briefcase Law Office Managing Partner Evgeny Kryukov

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account."

The lawyer recalled that the bankruptcy proceedings in Oracle Computer Equipment should be completed on December 3 of this year. But he believes that, given that a number of transactions are still being challenged, the deadline will be extended for another six months. "If we assume that the parent company acquires the rights of claim of all creditors, then it will have to go to court with applications for procedural succession for each right of claim. If the macedonia whatsapp number database applications are satisfied, Oracle will acquire the procedural status of creditors in the bankruptcy case, after which two options are possible: either continuation of the bankruptcy proceedings, as a result of which the property will be sold, and the funds received will go to the parent company, or it will be proposed to conclude a settlement agreement," Kuzmin reasons, stipulating that third-party creditors could potentially object to the settlement, citing the fact that the decision was actually made unilaterally by a creditor affiliated with the debtor. At the same time, Roman Kuzmin called the second option more expected. “If the terms of the settlement agreement are fair, it is unlikely that such a position of third-party creditors will hold up in court,” he reasons.

pointed out that the practice of selling a bankrupt company's debt at a significant discount is very common. "Globally, there are two ways to restore the debtor's solvency and exit the bankruptcy procedure: concluding a settlement agreement or buying out the claims of independent creditors to a controlled entity and then declaring a waiver of the claims. Oracle decided to go the route of buying claims, and this is obviously a simpler scenario: there is no need to approve a settlement agreement at a meeting of creditors, take into account the opinion of minority creditors who refused," he reasons. Kryukov called the situation itself, when a foreign parent company is looking for a way to resolve such a dispute, "extremely rare." According to him, as a rule, they prefer to "forget" about Russian subsidiaries with debts.