Intercreditor Agreements in the Russian Doctrine and Practice

Abstract

The paper on the ground of interpretation of the Ruling of the Plenary Session of the Supreme Court of the Russian Federation dated November 22, 2016 № 54 "On Some Issues of Applying General Provisions of the Civil Code of the Russian Federation on Obligations and their Discharge" analyzes the nature of an agreement made between creditors concerning the procedure of discharging their homogeneous claims against the debtor, justifies the conclusion according to which such agreements are referred to association agreements that, as opposed to partnership agreements, regulate relations of uniting both property and entities. The paper examines opportunities to subject relationships between parties to an intercreditor agreement to the rules that regulate the procedure of making decisions by the meetings of civil communities under Chapter 9.1 of the Civil Code of the Russian Federation. The author provides arguments to support the contemplation that, depending on the sphere of application of agreements in question, it may be necessary to manage the pledge or any other claims of creditors (indebtedness) using the rules regulating an agreement of pledge management.