Rus News Journal

Arrest to payment not a hindrance

the Ninth arbitration appeal court has taken out Yesterday the decision obliging the Savings Bank to pay under the bill, in custody. For the first time in judiciary practice of the respondent have obliged to pay besides the basic sum of a bill debt also percent on him and fines for delay. This event not only clears up the confused practice of application of the bill legislation, but also considerably reduces risks of participants of the bill market.
the claimant - the consulting company Minmaks in the beginning of 2001 has bought 51 promissory note of the Savings Bank for a total sum of 12,5 million rbl. But behind bills the loop of criminal cases was pulled: one of former owners has declared that securities have been stolen, and then sold on a chain. Inspectors repeatedly took out decisions about arrest of bills therefore the Savings Bank has included them in stop - sheet and to pay on them has refused. However in the end of the last year Minmaksu It was possible to carry in arbitration court of Moscow case about collecting under the arrested bill of the sum of the basic debt with percent and fines. And yesterday the Ninth arbitration appeal court has confirmed legality of this decision.

participants of the market have estimated a judgement very positively, after all the problem of arrest of bills costs rather seriously. According to the chief executive of Association of participants of the bill market (AUVER) Sergey Evsjukova, during criminal cases of bills it is arrested very much. Meanwhile, from its point of view, bill arrest limits in the rights of the holder as the drawer without a judgement the bill, most likely, will not pay . A court position, according to Sergey Evsjukova, raises legal security of purchasers of bills . If the court has taken of other position, it would allow payers to evade by means of law enforcement bodies from payment of bills - Konstantin Sazonov considers the deputy chief of department of financial resources of Gazprombank.

the chief of bill department IK Veles the Capital Evgenie Shelenkov underlines that hit in stop - sheet usually does the bill illiquid as there is its serious risk nepogashenija. Thus bill arrest creates risk not only for the owner of a security, but also for the payer. In court representatives of the Savings Bank referred that there is a danger to pay under the arrested bill twice. In February, 2002 the Supreme Arbitration Court presidium in a similar situation has specified in risk of double payment under the same bill.

the risk of double payment is very serious, - Konstantin Sazonov confirms. - if criminal case at any moment it can be found out that the lawful holder not the one to whom payment, and someone another is made is brought. Then it is necessary to pay the second time and to try to collect from the one to whom have already paid, however it is difficult . In its opinion, the risk of double payment remains, but in the presence of a judgement it is minimised. Thus, practice of application of the bill legislation becomes more clear and more favorable for participants of the bill market.