Supreme court of Russia canceled judicial acts due to legal uncertainty

The Economic Board considered the case of bringing the chairman of directors and chief accountant of the debtor-bank to subsidiary liability.  The applicant's position was based on the fact that the mentioned persons had issued loans that could have been knowingly irrecoverable.

The court of first instance satisfied the claim, but the appeal and the district rejected it. The The Supreme court of Russia put an end to the situation.

The question concerned the bankruptcy of a credit organization, whose leaders, on the assumption of the manager, were engaged in issuing irrecoverable loans, knowing this in advance.

In parallel with the insolvency case, a criminal case was initiated against the bank's management, and a short time after the decision was made to bring the persons controlling the debtor to justice, the criminal court issued a guilty verdict.

However, the decision of the arbitration court on bringing to the subsidiary was canceled by the higher authorities with a reference to the lack of proof of the circumstances for which it is possible to bring the named persons to justice.

When considering the case, the Economic Board concluded that the appeal and the district court created legal uncertainty, since the criminal court established the guilt of the controlling persons, and the arbitration court indicated that insufficient evidence had been submitted for this.

As a result, the Supreme Court of Russia canceled the decisions of the appeal and district courts and sent the dispute for reconsideration (decision № 307-ES19-18598 (12) of August 26, 2021).