A successful case to increase the estimated value of collateral or real estate being sold
In the proceedings of the CSI there was a writ of execution issued by the Bostandyk District Court of Almaty dated 12.06.2015 on recovery from gr. "S", in favor of JSC "BankCentrCredit" debt in the amount of 8,224,545 tenge and refund of the paid state duty in the amount of 82,245 tenge. The bailiff issued a resolution on the participation of a specialist in the assessment of the seized property and the execution of this resolution was entrusted to the evaluation company Dalel ic LLP, which from October 03 to October 10, 2018 conducted an Inspection of the evaluation facility for non-residential premises located at 5 Krasnogvardeysky Trakt Street, Almaty. According to Report No.210-2018 dated October 10, 2018 of the Valuation Company "Dalel ic" LLP, the debtor's collateral amounted to KZT 7,324,000. Which we received on 22.12.2018.
We do not agree with the assessment of the Appraisal companies of "Delel ic" LLP, as the market value of collateral real estate indicated in the report of the Appraisal Companies of "Delel ic" LLP is estimated incorrectly and unreliably, as well as unfairly underestimated, since each house located in this area is individual and requires a detailed approach, and not as according to reports No. 210-2018 dated October 10, 2018. In connection with this, we have submitted an alternative report on the valuation of real estate for No. 216 dated December 26, 2018, performed by the Assessment Group "Bkyt" LLP, which determines the market value of collateral in the amount of 25,847,834 tenge, we consider it reliable and fair, the market value indicated in it - It corresponds to the actual value of the collateral, as an individual approach has been applied in this assessment. The assessment for No. 216 dated December 26, 2018, carried out by Assessment Group Bkyt LLP, which determined the market value of the collateral in the amount of 25,847,834 tenge, we consider it reliable and fair, the market value indicated in it corresponds to the real value of the collateral, since an individual approach was applied in this assessment. the approach.
A successful case to increase the estimated value of collateral or real estate being sold
We consider it possible to adopt the HSI Assessment Report No. 216 dated December 26, 2018, carried out by the appraisal company "AssessmentGroup"Bk" LLP, as the basis for determining the market value of collateral real estate located at 5 Krasnogvardeysky Trakt Street, Almaty, and the amount indicated in the Assessment Report for No. 216 dated December 26, 2018, executed by AssessmentGroup Bk LLP, which is a more realistic market value, it would be fair to take it as the current market value for mortgaged real estate. On the basis of the above, the CSI was asked to accept the assessment report No. 216 dated December 26, 2018, carried out by the appraisal company "AssessmentGroup"Bakyt" LLP, as the basis for establishing the market value of collateral real estate located at . Almaty, Krasnogvardeyskiy trakt str., 575; Report No. 210-2018 dated October 10, 2018, issued by the Valuation company Delel Ic LLP, to be declared invalid and unreliable as it does not correspond to the current market value. However, our report was not accepted by the CCI, accordingly, the CCI's action not to accept an alternative assessment was appealed in accordance with art. 250 of the CPC RK to the Court of First Instance in Almaty.
Since January 08, 2019, the CSI did not give a reasoned response to our letter, verbally informing us that our assessment had been submitted to the claimant for approval, we were subsequently brought to court that a month had passed since the CSI assessment was transferred, for which we could not receive a reasoned response within the legally established time frame. Also, as of today, the CSI intends to send the mortgaged property to auction, respectively, we consider the recoverer and the CSI did not accept our assessment. Thus, we believe that the Debtors' rights have been violated.
A successful case to increase the estimated value of collateral or real estate being sold
In this regard, it may be necessary to conduct an expert assessment of the reliability of the valuation of property for a fair, realistic determination of the value of collateral. In accordance with Parts 1, 2, 5 of art. 82 of the CPC RK: "An expert examination is appointed in cases where circumstances relevant to the case can be established as a result of an examination of its objects conducted by an expert on the basis of special scientific knowledge"; " The presence in the case of acts of audits, inspections, conclusions of departmental inspections, as well as written consultations of specialists, appraisers' reports, does not replace the expert's opinion and does not exclude the possibility of appointing a forensic examination on the same issues"; "Persons involved in the case may ask the court to entrust the examination to a specific person with the necessary special scientific knowledge". Also, by virtue of part 5 of the above-mentioned article, we consider it possible for the court to accept the Assessment Report No. 216 dated December 26, 2018, carried out by the assessment company Assessment Group Bkt LLP, as the basis for determining the market value of collateral real estate located at 5 Krasnogvardeysky Trakt Street, Almaty. And the amount indicated in the Assessment Report of the LLP "Assessment Group"Bakyt", in the amount of 25,847,834 tenge, which is a more realistic market value, it would be fair to take as the current market value for collateral real estate.
Whereas our assessment offers a decent price for the mortgaged property and, from the point of view of profit, beneficial for the CSI. We believe that the CSI succumbed to pressure from the Recoverer, whereas according to art. 7, paragraph 3, no one has the right to interfere in the official activities of the bailiff, except for persons directly authorized to do so by law. Unlawful interference in the activities of the bailiff entails liability established by the laws of the Republic of Kazakhstan. according to article 68. The Law on Enforcement Proceedings and the Status of Bailiffs stipulates that payment for the assessment of the debtor's seized property is assigned to the parties to the enforcement proceedings and is subsequently reimbursed at the expense of the debtor. The specified article also states that the Bailiff, within ten working days from the moment of arrest and identification of the debtor's property, issues a resolution on the appointment of an appraiser by: self-appointment of an appraiser; appointment of an appraiser at the suggestion of one of the parties to the enforcement proceedings; instructions from one of the parties to the enforcement proceedings to assess the debtor's property and copies of the bailiff's decision to appoint an appraiser are sent to the parties to the enforcement proceedings no later than the day following the day of its issuance.
In Article 250 of the Civil Procedure Code of the Republic of Kazakhstan, a complaint may be filed against the actions (inaction) of the bailiff to execute enforcement documents, including challenging tenders, during enforcement proceedings or against the refusal to commit such actions by the recoverer or debtor. The complaint is filed with the district (city) court of the territorial area served by the bailiff or at the place of registration of a private bailiff within ten working days from the date of the action (refusal to perform the action) or from the day when the recoverer or debtor, who was not notified of the time and place of the action by the bailiff, became aware of it. The complaint is filed at the place where the enforcement actions were performed if the territorial area served by the bailiff or the place of registration of a private bailiff are located in the same locality as the place where the enforcement actions were performed. A preliminary appeal to higher authorities and to a higher official in the order of subordination does not prevent the filing of a complaint to the court. Also item 6. The actions of the bailiff related to the valuation of property, as well as the acceptance or refusal to accept a report on the valuation of property may be appealed in accordance with the procedure established by this article. Based on the above, the Court was asked to take into account all the above arguments and make a decision in accordance with the principles of good faith, reasonableness and fairness, since each action of the HSI is an additional expense.
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