Sergei Bakeshin has commented for Novy Prospect on the buyout of assets leased from the bankrupt

The owners of  Russko-Vysotskaya Poultry Farm are looking for a buyer for their asset. The fact that the company leases land and poultry houses from  a company, which is in bankruptcy proceedings, makes it even more difficult to carry out the plans. The property complex owned by the bankrupt company was repeatedly offered for sale for 3 billion rubles, but all auctions failed due to lack of bids.

“It is possible that the market value of the property has managed to increase. Or the beneficiaries of bankruptcy are satisfied with the situation when the property is used by a tenant and in fact they earn on it,” Sergei Bakeshin, Head of Dispute Resolution and Insolvency practice at Maxima Legal suggested commenting on the situation for Novy Prospect online publishing.

The expert reminded that the company leasing the bankrupt’s property has other ways to acquire the leased assets apart from buying them at auction. “The lessee, like any other person, can pay off all the claims of the debtor’s creditors, become the sole creditor and take the property for itself under an amicable agreement or as an assignment,” Sergei explained.

To read the full article (in Russian) please visit Novy Prospect website >>>