Recommendations

If you are interested in acquiring property at bankruptcy auctions, you should be extra careful and check if the auction conditions comply with the current legislation.

It should be borne in mind that for auctions held during the quarantine period, a significant number of disputes may arise related to compliance with the terms of publication of information on the conduct of auctions, as well as providing a real opportunity to get acquainted with the property put up for auction and participation in the trading procedure.

We highly recommend that you check the acquired asset for potential claims of third parties, pay special attention to the presence or absence of relevant information in the regulation on the sale of property, request the bankruptcy administrator for information about persons who have the right of preferential acquisition of the asset and their notification, in order to avoid the risks of subsequent loss of the asset.