A loan agreement was concluded between Alpha LLC (Lender) and Omega LLC (Borrower). In order to ensure the proper performance of obligations to return the loan, real estate owned by a third party, Ivanov A.V., was provided as pledge.
Prior to the expiration of the loan repayment period, the Pledger Ivanov A.V. was declared bankrupt by the court. The question arose whether Alfa LLC (Pledgee) could join the register of creditors' claims in a bankruptcy case of a citizen (Pledger) as a pledge creditor.
According to paragraph 5 of Art. 138 of the Bankruptcy Law, claims of pledgees under pledge agreements concluded with the debtor to secure the fulfillment of the obligations of other persons are also satisfied in the manner provided for in Art. 138 Bankruptcy Law. These mortgagees have the rights of bankruptcy creditors whose claims are secured by the pledge of the debtor's property in all procedures applied in a bankruptcy case.
According to paragraph 22.2 of the Resolution of the Plenum of the Supreme Court of Arbitration of the Russian Federation No. 58 dated July 23, 2009 "On some issues related to meeting the claims of the pledgee in case of bankruptcy of the pledgеr" secured by a pledge obligation.
Thus, in accordance with the current legislation and the prevailing judicial practice, Alfa LLC (Lender) is entitled to file a request to Omega LLC (Borrower) for the early repayment of the loan body as well as the interest under the loan agreement.
If the Borrower fails to fulfill his obligation to repay the loan body and interest, Alfa LLC will have the right to join the register of claims of the debtor's creditors (Pledger) as a pledge creditor within the time frame established by law.