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Supreme Court of Russia indicated on what grounds it is impossible to impose subsidiary liability

The highest court of Russia considered the case on bringing one of the persons controlling the debtor-bank to subsidiary liability. The bankruptcy trustee insisted that the defendant had approved transactions that ruined the bank, and had not taken measures to improve financial situation in the credit institution. The courts of three instances unanimously upheld the applicant's position ...

Subsidiary of Johnson & Johnson company is driven to bankruptcy over talc claims

... before, the company filed a lawsuit for voluntary bankruptcy protection, according to the information posted on the Johnson & Johnson’s website . Thus, it is planned to consider the issue of compensation payments, which has been previously announced, in court. According to Michael Ullmann, the leading legal adviser of Johnson & Johnson, the bankruptcy measure for the subsidiary is being taken to bring legal clarity to the cosmetic talc conflict. At the same time, Johnson & Johnson intends to provide LTL not only with the amounts that, according to the court, should be paid within the framework of the claims, but also ...

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 director had unreasonably omitted to act when the company's financial burden was growing. However, the Supreme Court did not agree with this interpretation ...

FOR THE PERFORMANCE OF WORK THAT HAS NOT BEEN AGREED UPON WITH CONTRACTS, YOU CAN GET TO A SUBSIDIARY

The creditor applied to the court to hold the controlling person vicariously liable (case no. A43-28416/20). In rejecting the application, the courts of the two instances proceeded from the reasonableness and good faith of the defendant's actions in assuming obligations under the ...

ONLY FOR OBVIOUS LOSS-MAKING CAN YOU BE INVOLVED IN A SUBSIDIARY

The manager applied to the court for bringing the controlling persons to subsidiary responsibility (case no. A74-14107/19). Partially satisfying the application, the courts of two instances proceeded ... ... the dispute for reconsideration, pointing out that the amount of creditors' claims included in the register according to the bankruptcy trustee's report was not comparable with the amount of rent actually received by the defendant under lease agreements....

THE DAUGHTER OF THE EX-OWNER OF A NETWORK OF TIRE CENTERS IN UFA WAS INVOLVED IN A SUBSIDIARY

... 18 years. In 2017, Russhina-Tyumen received the status of bankrupt. By the time of bankruptcy, the amount of the company's debt to creditors exceeded 1.2 billion rubles... ... included not only the transfer of assets, but also the staging of a fire. According to the court, the Taganka company (CJSC), affiliated with the Smyshlyaevs, received a batch... ... convicted businessman, his business partner Lilia Akhmetova was also involved in the subsidiary. In a separate proceeding, the court also imposed a penalty in the amount...

THE COURTS HAVE ATTRACTED BANKERS TO A SUBSIDY OF 463 BILLION

In the first 6 months of 2024, the Deposit Insurance Agency brought former bankers to subsidiary liability for a total amount of over 460 billion rubles. In total, the Deposit Insurance Agency managed to recover 77 billion in losses. According to the agency's press service, in the first half of this year, claims in the amount of 234 billion ...

THE DISTRICT COURT PROTECTED THE BANKRUPT FROM DOUBLE LIABILITY

... referring to the uniform legal nature of these sanctions. However, the courts of two instances refused them. It was pointed out that the grounds for these liability measures are different. The losses were recovered on the basis of article 61.20, and the subsidiary was recovered on the basis of article 61.11 of the Bankruptcy Law. The courts considered that the applicants had missed the deadlines allowing them to appeal the act of August 29, 2023 on appeal. The cassation did not agree with the lower courts, referring to the existence of grounds for adjusting the amount of Lepikhov's ...

YOU CAN'T BE RESPONSIBLE FOR THE SAME THING IN BANKRUPTCY CASES OF DIFFERENT COMPANIES

In the framework of the bankruptcy case (No. A40-41566/19), the manager filed an application for bringing to subsidiary responsibility the head of the logistics department of the debtor's parent company. Refusing to satisfy the application, the court of first instance proceeded from the fact that the actions (transactions) imputed to the defendant did not cause any significant harm, did not entail the bankruptcy of the debtor and the impossibility of returning funds to the bankruptcy creditor ...

IF YOU ROB A MANAGEMENT COMPANY, YOU SHOULD EXPECT A SUBSIDY

The manager applied to the court for bringing the controlling persons to subsidiary responsibility (case no. A67-9420/20). The courts of two instances refused to satisfy the application, recognizing as erroneous the claim that the funds received from the public were spent by the controlling persons at their own discretion ...

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