SANITIZED BANKS AND NPFS MAY BECOME LESS RESPONSIBLE FOR THE DEBTS OF "DAUGHTERS"

The State Duma will consider in the second reading a draft law, according to which the amount of subsidiary liability of rehabilitated organizations for the debts of legal entities controlled by them will be limited in the event of such obligations before the decision to start rehabilitation. We are talking about banks, insurance organizations and non-state pension funds (NPFs).

The remainder of the debt will have the right to recover from former owners and managers by bringing them to subsidiary responsibility, Fedresurs reports. As noted in the draft, the aggregate amount of such claims should not exceed the value of the net assets of the financial institution at the end of the quarter in which the decision on rehabilitation was made.

Prior to that, the document implied that representatives of bankrupt companies could challenge creditors' claims in court.

In addition, the bill introduced a norm according to which the requirements of the rehabilitated banks to debtors will not be lowered in the queue for repayment if the relevant grounds arose before the procedure. These include cases when the bank provided compensatory financing to the debtor.