BIDDING IN BANKRUPTCY PROCEEDINGS: PROBLEMS OF OVERSTATING THE INITIAL SALE PRICE AND THE COSTS OF BIDDING
The purpose of the research. The article discusses the ways and consequences of overstating the costs of bidding by collateral creditors in the course of bankruptcy procedures of legal entities and individuals. The article analyzes such problems identified in law enforcement practice as overstatement of the initial sale price of the pledged item by the collateral lender, unjustified involvement of a third-party specialized organization as the auction organizer instead of the arbitration manager, the establishment of remuneration for the auction organizer and the operator of the trading platform depending on the price of the object of sale. The purpose of the research is to analyze the problems associated with the overestimation of the costs of bidding by collateral creditors, and to develop proposals for their solution. Results. Based on the conducted research, the author concludes that in practice, collateral creditors, using the right to determine the initial sale price of the property that is the subject of collateral, often set it in an inflated amount. At the same time, they often attract a friendly person as the organizer of the auction and the operator of the trading platform and disproportionately overestimate the amount of his remuneration, determining it as a percentage of the price of the property being sold. These conditions are significantly worse than the market conditions. Expenses are reimbursed at the expense of the bankruptcy estate in an extraordinary manner. As a result, the first and repeated auctions are held to no avail, the bankruptcy procedure is delayed, the costs of bidding are significantly increased, the bankruptcy estate loses significant funds to the detriment of the property interests of all other creditors, and the general legal principles and principles of bankruptcy law are violated. The author gives recommendations on amendments to the current legislation on bankruptcy, aimed at solving these problems in order to prevent unfair actions of collateral creditors and other persons in determining the procedure and conditions for the sale of the debtor's property, as well as to increase the currently extremely low level of satisfaction of creditors ' claims.