The case of maintaining a portfolio of mortgages worth about 50 million rubles

Situation:

After the recognition of Narodniy Credit Bank as bankrupt, the bankruptcy trustee, the Deposit Insurance Agency, filed a claim with the Moscow Arbitration Court declaring invalid the sale of mortgages to the bank’s vice president, and then A. Yu. Popov, the new buyer.

Task:

Achieve a refusal to satisfy the stated requirements and keep for Popov, as a bona fide purchaser, a portfolio of mortgages worth about 50 million rubles.

Result:
  1. The Moscow Arbitration Court partially satisfied the claim and refused to invalidate the sale of mortgages to A. Popov A.
  2. The courts of two higher instances confirmed the legality of the decision.
Tatiana Protsenko
Managing Partner, Attorney

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