Point of law: the laws of which country should apply in the Russian court to the demands of a foreign bank which is in a state of bankruptcy?

Ratio decidendi: since the transaction contested by the bank is connected with the procedure of its bankruptcy, courts must assess the admissibility and validity of the its demand, proceeding from the provisions of Article 1202 of the Civil Code, that is, the legal  rules of the state in which the procedure of its bankruptcy tаkes place (lex concursus).  

Practical consequences: the Judgment says that prior court decisions in analogous cases if inconsistent with this interpretation may be reversed in the procedure and within the limits envisaged by Art 311 of the Commercial Procedure Code.