Forming case law in recovery proceedings

Our Dispute Resolution lawyers successfully represent a client in the 7 year-long recovery proceedings.

After the court dismissed the debtors’ complaint about the bailiff’s actions, a new case law was formed in situations where a new buyer offers a higher price for the property for sale than the buyer proposed by the debtors. The court explained that although the law does not directly regulate such situation, the sale of the property to the highest bidder conforms the objectives of the recovery proceedings.

Moreover, the court ruled that if the debtors reject a potential buyer’s offer of a higher price, they are no longer entitled to rely on that offer if the property is sold at a lower price.