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THE COURTS HURRIED TO BRING THE HEAD OF DEBTOR TO SUBSIDIARY LIABILITY AND MADE A MISTAKE

... North-West District. The judges of the first and the appellate instances came to the conclusion that it was necessary, however, this decision was considered erroneous in cassation. The bankruptcy trustee submitted an application for bringing the head of debtor to subsidiary liability and referred to several circumstances at once. Among them, there were untimely transfer of the debtor's documentation, causing harm to creditors by a number of transactions and failure to file a bankruptcy petition in a situation ...

Tax officials clarified what will help to reduce subsidiary liability

... well as compensating for property losses incurred by them. This methodology was used, in particular, when the courts considered a number of cases ( А72-19497/2019 , А72-9437/2020 , А72-582/2021 ). As for the right to initiate a process to recover a subsidiary liability outside a bankruptcy case, it arises for persons who have outstanding claims against the debtor, as well as in the event of termination of a bankruptcy case due to insufficient property to finance its further maintenance. The tax authority also recalled that the mechanism of bringing controlling persons to subsidiary liability is an exceptional ...

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,...

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

... were expressed by the fact of presence of two arrears under the decisions of the arbitration court. The court orders 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 ...

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 ...

THE SUPREME COURT OF RUSSIA WILL CONSIDER A CLAIM FOR SUBSIDIARY LIABILITY OUT OF BANKRUPTCY PROCEEDINGS

The case to bring the persons controlling the debtor to subsidiary liability was transferred to the Economic Board of the Supreme Court of Russia at the request of one of the creditors. The peculiarity of the application is that it was filed after the court terminated the insolvency case of the debtor company....

The district court clarified the specifics of bringing the head of company to subsidiary liability

The Arbitration Court of the North-West District considered the case at the request of the bankruptcy manager of the debtor. The question concerned the attraction of the head of a bankrupt company to subsidiary liability due to incomplete transfer of documentation. At the same time, the head himself insisted that he had provided all the necessary documents and there were no grounds for bringing him to liability. The court of first instance and the ...

CASSATION: COURTS ARE OBLIGED TO ESTABLISH THE MOMENT OF OCCURRENCE OF OBJECTIVE BANKRUPTCY

In the framework of the bankruptcy case (No. A40-34123/19), the courts considered the application of the manager for bringing the former director of the debtor to subsidiary liability. In support of the application, the manager referred to the fact that in the framework of the bankruptcy case of one of the debtor's creditors, the transaction on the transfer of funds by the debtor in favor of the creditor was challenged,...

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 ...

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