RusBankrot
We know everything about bankruptcy
14/06/2025
Saturday
THIS DAY IN HISTORY:
14 June 
1970 The Schengen Agreement, which included five European states, was signed.
1970 The Schengen Agreement, which included five European states, was signed.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 The Hawaiian Islands became the territory of the US.
1970 The Hawaiian Islands became the territory of the US.
14 June
1970 The Schengen Agreement, which included five European states, was signed.
1970 The Schengen Agreement, which included five European states, was signed.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 China refused to recognize the USSR as the leaders of the communist movement.
1970 The Hawaiian Islands became the territory of the US.
1970 The Hawaiian Islands became the territory of the US.
EX-DIRECTOR OF AN INSURANCE COMPANY FROM THE ANGARA REGION WAS ORDERED TO PAY 1.5 BILLION
The Arbitration Court of the Irkutsk Region has satisfied the claim filed by the Deposit Insurance Agency against the former head of the Angara insurance company. The former CEO was recognized as having an obligation to compensate for losses in the amount of 1.5 billion rubles. The reason for filing the claim was the withdrawal of assets, which Larisa Frolova, who held this position, allowed during the bankruptcy of the insurance company.
Angara was registered in the city of Bratsk. The company has been providing insurance services since 1992 mainly in Buryatia and Irkutsk region. They included a wide range of different types of insurance, including both compulsory and voluntary (auto insurance, property insurance, liability insurance and medical risks). Six years ago, the Central Bank of the Russian Federation cancelled the insurer's licenses due to its failure to comply with the established requirements.
A few months after the revocation of the licenses, Angara received bankruptcy status. Since then, the insolvency procedure has continued under the supervision of the interim administration appointed by the Deposit Insurance Agency. As part of the analysis of the insurer's financial activities, it turned out that some of the assets were withdrawn from the company, which gave rise to lawsuits against its former managers.
Earlier, the court issued a similar decision against the former owner of the company, Alexander Kondratenkov. He was also charged 1.5 billion rubles to cover the damage. Now Larisa Frolova has also been brought to justice, whose actions the court regarded as contributing to the deterioration of the company's financial condition and infringement of creditors' rights.
The court also found Frolova liable to subsidiary liability. This means the possibility of additional recovery of funds from it if the bankruptcy estate is insufficient to satisfy all creditors' claims. The specific amount of this liability will be determined after the completion of the calculations in the framework of the bankruptcy proceedings.
The Angara case is becoming an example of the consistent application of the rules on personal property liability of ex-heads of bankrupt financial organizations. The court's decision on Frolova confirms the practice in which managers who commit gross violations can be held accountable for damage caused by actions during the period of their powers.
Angara was registered in the city of Bratsk. The company has been providing insurance services since 1992 mainly in Buryatia and Irkutsk region. They included a wide range of different types of insurance, including both compulsory and voluntary (auto insurance, property insurance, liability insurance and medical risks). Six years ago, the Central Bank of the Russian Federation cancelled the insurer's licenses due to its failure to comply with the established requirements.
A few months after the revocation of the licenses, Angara received bankruptcy status. Since then, the insolvency procedure has continued under the supervision of the interim administration appointed by the Deposit Insurance Agency. As part of the analysis of the insurer's financial activities, it turned out that some of the assets were withdrawn from the company, which gave rise to lawsuits against its former managers.
Earlier, the court issued a similar decision against the former owner of the company, Alexander Kondratenkov. He was also charged 1.5 billion rubles to cover the damage. Now Larisa Frolova has also been brought to justice, whose actions the court regarded as contributing to the deterioration of the company's financial condition and infringement of creditors' rights.
The court also found Frolova liable to subsidiary liability. This means the possibility of additional recovery of funds from it if the bankruptcy estate is insufficient to satisfy all creditors' claims. The specific amount of this liability will be determined after the completion of the calculations in the framework of the bankruptcy proceedings.
The Angara case is becoming an example of the consistent application of the rules on personal property liability of ex-heads of bankrupt financial organizations. The court's decision on Frolova confirms the practice in which managers who commit gross violations can be held accountable for damage caused by actions during the period of their powers.
12.05.2025
