The Arbitration Court has approved a settlement agreement in the framework of the bankruptcy case of the oil company

The Arbitration Court has approved a settlement agreement in the framework of the bankruptcy case of the oil company

The Arbitration Court has approved a settlement agreement in the framework of the bankruptcy case of the oil company.

The initially chosen strategy and tactics of the project showed their results a year and a half later, fully confirming the initial forecasts for the development of events.

At the end of 2021, the bankruptcy trustee and the debtor’s majority creditor filed applications to challenge more than 70 transactions over 17 billion rubles, the execution of these transactions, according to the majority bankruptcy creditor and the bankruptcy trustee, led the oil holding to bankruptcy, which was the reason for filing an application to bring several dozen persons to subsidiary liability for a total amount exceeding 24 billion rubles. At the same time, using the method of calculating the rating agencies regarding the amount of claims in which lawyers participate, the total protected property interest amounted to more than 170 billion rubles.

Representing the interests of principals, subsidiary defendants, and achieving a quite logical goal – protection from bringing them to subsidiary liability, the lawyers of Tenzor Consulting Group managed to bring the oil company out of bankruptcy, allowing it to continue its current mining activities.

Having won in the predominant number of disputed transactions (the remaining transactions remained under consideration by the court of first instance), having prepared a legal position on a separate dispute on bringing the persons controlling the debtor to subsidiary liability, it was possible to convince the majority creditor of the futility of the submitted applications, including on bringing to subsidiary responsibility.

The conclusion of a settlement agreement will certainly have a positive effect on the activities of all participants in the process – and for minority creditors, since they are fully settled; and for the majority creditor, because by concluding a settlement agreement, the probability of debt recovery increases significantly, in contrast to the case with the sale of the debtor’s property; and for subsidiary defendants, since all claims against them are withdrawn; and for the employees of the debtor, since they retain their jobs; and for the court, as there is a significant reduction in the burden on the courts of all instances.

Thus, this case is a sample of achieving one of the priority goals of bankruptcy – restoring the debtor’s solvency, maintaining jobs, debt restructuring.

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