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

... 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 of the situation. The Economic Board recalled that the question of the validity of the failure to file a petition on the debtor's insolvency by its head should be decided taking into account a number ...

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

... is not intended to unjustifiably avoid financial responsibility. Considering the complaint of a failed bankrupt debtor, the Supreme Court concluded that at the stage of filing an application, the arguments voiced by colleagues should not have been considered,... ... should be resolved in the process of considering a bankruptcy case, but not at the stage of making a decision on its initiation (court ruling of May 18, 2021 No. 301-ES20-19192).

THE SUPREME COURT OF RUSSIA: TERMINATION OF BANKRUPTCY CASE IS NOT A GROUND FOR A DENIAL OF A WRIT OF EXECUTION ISSUANCE

The Economic Board of the Supreme Court of Russia considered the claim of the debtor's creditor to issue him a writ of execution on the basis of a ruling on the inclusion of debt in the register of creditors’ claims. The claim was filed after the termination of the insolvency ...

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