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Supreme Court of Russia resolved the issue of the bank's beneficiaries brought to subsidiary liability

The Economic Board considered the case at the request of the bankruptcy trustee of the bank - the Deposit Insurance Agency - on bringing a number of beneficiaries of the credit institution to subsidiary liability. The positions of the judges of the lower instances were divided, the case went through not a single round of challenge and finally reached the Highest court of Russia. The DIA's claim was that the persons named in the claim were allegedly involved in making decisions that were economically unfavorable for the bank, which ultimately led to the debtor's insolvency. In a number of instances, this position was supported, however,...

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