Refusal to challenge debtors’ transactions in the bankruptcy procedures

The article analyzes the issues of application of article 61.7 of the Law on Bankruptcy related to limits of its application, features of particular grounds for refusal to challenge transactions and consequences of such refusal. The author concludes that it is possible to apply refusal to challenge outside the insolvency proceedings. He concludes that the court could apply article 61.7 ex officio. He proposes to differentiate consequences of application of article 61.7 of the Law on Bankruptcy depending on good or bad faith of counterparty.