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THE SUPREME COURT OF RUSSIA CLARIFIED THE FEATURES OF BRINGING A HEAD OF COMPANY TO SUBSIDIARY LIABILITY

The bankruptcy trustee of the debtor demanded in court that the former head of the bankrupt company should be brought to subsidiary liability. The reason was the failure to file a bankruptcy petition in court in a situation of growing debts. The lower courts agreed with this, pointing out that the ...

THE SUPREME COURT OF RUSSIA: THE DEBTOR HAS A RIGHT TO BANKRUPTCY EVEN IF HE IS GUILTY OF CRIME

An individual initiated his own bankruptcy procedure in a situation of having the only debt to the state for a crime committed earlier. The courts of three instances terminated the proceedings on the application, citing the unlawfulness of the actions of the debtor himself and the absence of other creditors, but the Supreme Court of Russia canceled the decision, sending the case for reconsideration....

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