On November 17, 2025 Hotel Baltschug Kempinski hosted a conference organized by the Vedomosti newspaper, where participants discussed practical aspects of legal regulation in bankruptcy.
Dmitry Yakushev, Attorney and Counsel of Andrey Gorodissky & Partners Law Firm’s Bankruptcy Practice team made his report in the first session of the event “Transactions Contesting. Step Forward, Two Steps Back, or How Not to Step on One’s Own Foot when Dancing?” on the following topic: “Contesting Transactions Amid Sufficiency of Debtor’s Assets for the Repayment of Debts on the List of Creditors' Claims”.
Dmitry told the audience about rather uncommon but from the procedural viewpoint interesting situation: contesting by the bankruptcy manager of transactions in the situation where the bankruptcy estate is sufficient for discharging of creditors’claims.
Though, at first sight, there is no need in such contesting, such situation is rife with a lot of procedural issues and risks for the bankruptcy manager.
By way of example Dmitry referred to some actual legal precedents and made a conclusion that contesting of debtor’s transactions in the bankruptcy proceedings is possible but only in case there is a realistic target: replenishment of the bankruptcy estate for the purpose of discharging of creditors’ claims. Where the bankruptcy estate comprises assets sufficient for settlements with all creditors, further contesting of transactions for the purpose of increasing of the bankruptcy estate ceases to be relevant from the viewpoint of protection of creditors’rights.
“Bankruptcy Practice” is an annual conference, one of the “Legal Services Business” series, held by the Vedomosti, a business periodical, which affords the key market players the opportunity to present newest solutions employed in law practice within the context of various bankruptcy aspects.
