In a bankruptcy case of a citizen-debtor, considered by the Arbitration Court of St. Petersburg and the Leningrad Region, the debtor’s financial manager filed a claim to invalidate three agreements on the assignment of rights under a shared construction participation agreement in relation to a two-room apartment. According to the manager, these agreements actually constituted a single transaction aimed at the actual sale of a two-room apartment without paying off debts to creditors. Therefore, the apartment must be returned for its subsequent sale and distribution of the proceeds among the debtor’s creditors.
In case A56-134112/2019, we represented the interests of the last purchaser of the apartment, who is now its owner. We pointed out that our client is a bona fide purchaser – they were not in collusion with other participants in the disputed chain of transactions, acquired the apartment at a market price, exercised due diligence when checking the acquired property, concluding the transaction, and making settlements on it.
The court agreed with these arguments and did not find any signs of bad faith on the part of our client. The court’s ruling was left unchanged by the appellate court, as a result of which our principal retained his apartment.
