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Debtors may be discharged due to financial difficulties during pandemic – Supreme Court

16:12 08/09/2020

MOSCOW, September 8 (RAPSI) – The Supreme Court of Russia allowed exemption of debtors from responsibility for payment delays if they found themselves in a sticky financial situation because of the coronavirus pandemic restrictions, the highest instance’s Chair Vyacheslav Lebedev said at the Forum of the BRICS Supreme Courts’ Chairmen on Tuesday.

According to Lebedev, courts may consider such situations as force majeure circumstances.

In the modern economy support of financial service consumers in a sticky material situation is too important, Lebedev stated. Therefore, admitting and protecting a rule of proper discharge of obligation Russian courts follow requirements of pleas of justice and reasonableness of the consumers’ tortious liability, he added.

In accordance with the legal stance of Russia’s Supreme Court, an off-taker citizen has a right to file a lawsuit against banks seeking to lower a loan agreement forfeit if it is out of proportion to the circumstances of a delay in a credit payment, the Supreme Court’s head stated.

Representatives of Supreme Courts of countries being the members of BRICS met in Moscow to discuss problems relating to protection of interests of economic entities by means of administrative proceedings and rights of consumers in the current economic environment on September 8. The event is held in the form of a videoconference. The conference is attended by Chairman of Russia’s Supreme Court Vyacheslav Lebedev as well as heads of Supreme Courts of Brazil, China, India, and South Africa.

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Debtors may be discharged due to financial difficulties during pandemic – Supreme Court

16:12 08/09/2020 The Supreme Court of Russia allowed exemption of debtors from responsibility for payment delays if they found themselves in a sticky financial situation because of the coronavirus pandemic restrictions.
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