Successfully defending a contract for fiduciary management of a major shopping mall in a bankruptcy case
Our Bankruptcy and Anti-crisis Protection of Business Practice has proved the lawful nature of a fiduciary management contract that has been challenged by the debtor’s receiver on the ground that the management company has overstated the service fee and expenses.
After three years of legal battles and 40 court hearings, our bankruptcy and anti-crisis protection of business team has managed to defend the client’s contract for fiduciary management of a major regional shopping mall. What makes the dispute particularly important is the fact that the amount of the overstatement has been asserted as the ground for charging the client around RUB 5 billion in secondary liability in a related standalone dispute.
A particularly difficult aspect of defending the client’s interests was justifying the value of a set of various services supplied by the managing company, including on top of the list provided for in the contract.