Top significant cases in St. Petersburg
Karina Sidorova commented on the insolvency proceedings of Vyborg Forestry Development Corporation, LLC, which began in 2015. The Supreme Court of the Russian Federation annulled all decisions of lower instances and returned to the Arbitration Court of St. Petersburg and Leningrad region for a new consideration the dispute on the recovery of 663 million rubles of damages.
Karina Sidorova explains the significance of the case: "This position of the Supreme Court of the Russian Federation is important for litigation practice, since until that moment creditors were not responsible for the decisions they made at meetings of creditors. We’ll see how this precedent will affect the masses, since in this case there was still a statement from the tax authority. And the courts traditionally pay more attention to the statements of the Federal Tax Service than to similar statements of other persons involved in bankruptcy cases."