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Supreme Court of Russia indicated the case of abolition of subsidiary liability

The Economic Board of the Supreme Court of Russia considered a dispute on bringing the head of debtor to subsidiary liability. The reason was the failure to transfer the company's documentation to the bankruptcy trustee, which significantly hampered the latter's activities related to the bankruptcy process. The court of first instance satisfied the claim,...

District Court indicated when the director’s subsidiary liability may be reduced

... the Ural District considered the case on the complaint of the former head of the debtor, whose claim to reconsider the judicial act due to newly discovered circumstances was rejected by the lower courts. The applicant had previously been brought to subsidiary liability and asked to take into account the fact of the sale of the revealed property of the debtor, which could have affected the amount of claims against him. Refusing to satisfy the application, the court of first instance indicated that ...

Supreme Court of Russia refused to attract the director to the subsidiary liability due to the confusion with timing

... were issued prior to the initiation of the bankruptcy case. According to the court of first instance, during the disputed period, the debtor had not yet had the signs of insolvency, which in turn indicated the impossibility of bringing his director to subsidiary liability. The next two instances, on the contrary, considered the manager's arguments convincing, pointing out that during the disputed period, two judicial acts were issued on the collection of a large amount of debt, and the director should ...

The court canceled amicable agreement due to the provisions on subsidy liability

... one of the creditors, who expressed dissatisfaction with the terms of the amicable agreement concluded with the debtor. The document was signed by two majority creditors and contained, among other things, a refusal to bring the controlling debtor to subsidiary liability. The court of first instance was not confused by such a state of affairs, and it claimed that the document contained no violations of law. The parties that signed the agreement were two creditors holding 96% of the claims, as well ...

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 ...

Supreme Court of Russia terminated an attempt to re-impose secondary liability on the head of debtor

The claim to attract the person controlling debtor to the subsidiary liability was referred to the Economic Board of the Supreme Court of Russia at the request of the manager. The court of first instance terminated the proceedings, but the appeal and the district court sent the case for reconsideration, with ...

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