Fraudulent agreements in commercial proceedings. Judicial practice

Abstract

The article examines the theoretical and practical aspects of applying the construction of fraudulent agreements in bankruptcy cases. We draw attention to the fact that the legislation of Ukraine on bankruptcy establishes an important legal instrument – the recognition of the debtor’s transactions committed during the so-called suspicious period as invalid (Article 42 of the Code of Ukraine on Bankruptcy Procedures, hereinafter – KUzPB). The purpose of its application is to increase the liquidation mass of the debtor by returning property transferred to other persons for the purpose of protecting the interests of creditors.

We publish the features of the invalidity of the debtor’s deeds when applying various court procedures in the event of bankruptcy. The author emphasized that at the stage of presenting and evaluating creditors’ claims, they show high activity, which consists not only in presenting their own claims, but also in actively contesting the claims of other creditors. It has been established that the institution of invalidity of the debtor’s actions manifests itself differently at individual stages of the application of bankruptcy proceedings to the bankrupt debtor, which is determined by the goals and objectives of the relevant proceedings. It has been proven that in the proceedings regarding the disposition of the debtor’s property and in the rehabilitation proceedings, there are other grounds for invalidating the debtor’s transactions – this is the commission of significant transactions without the consent of the creditors’ committee (meeting).

The institution of the invalidity of the debtor’s deeds when applying the property process, especially during the preliminary meeting, is aimed at preventing the recognition of creditors’ claims arising on the basis of fictitious and pretended deeds, with the aim of artificially increasing obligations. In restructuring procedures, the main purpose of applying the institution of invalidity of the debtor’s transactions is to restore the debtor’s solvency. The purpose of invalidating the debtor’s documents in the liquidation procedure is to maximize the liquidation mass and satisfy as many claims for these funds as possible.