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THE SUPREME COURT SUPPORTED THE PLAINTIFF IN THE DISPUTE OVER THE SUBSIDY OUTSIDE BANKRUPTCY

The Economic Board (Judicial Board for Economic Disputes) of the Supreme Court of the Russian Federation considered Su Kim's complaint on July 2, 2024. The woman filed a lawsuit, which she conducted ... ... rubles). However, the citizen did not receive any money from the company. Therefore, at the end of March 2021, she initiated the bankruptcy of the organization in the Sakhalin arbitration. In May 2021, the arbitration court took the company under surveillance,...

THE SUPREME COURT DEALT WITH THE AMOUNT OF THE SUBSIDY FOR FAILURE TO FILE A BANKRUPTCY APPLICATION

... review, the courts granted the application, pointing out that the defendant had not fulfilled the obligation to file the debtor's bankruptcy application in a timely manner. The Supreme Court of the Russian Federation canceled judicial acts, refusing to satisfy the claim on the basis of the following: The ... ... of his appointment to the position of the debtor's general director. At the same time, such a basis for bringing a person to subsidiary liability, as failure to file a debtor's bankruptcy application, assumes that only claims that arose after the date ...

THE SUPREME COURT RECALCULATED THE TERMS IN THE DISPUTE ON SUBSIDIARY LIABILITY

... insolvency case of the company (No. A19-5157/2017), one of the creditors (JSC "IESK") tried to bring the ex-director to subsidiary liability. However, the issue of calculating the statute of limitations greatly confused the situation in which the judges of the Supreme Court of the Russian Federation had to deal with. From December 25, 2014 to June 25, 2019, Irina Voropaeva managed the ... ... the Angarit company. According to representatives of "IESK", the woman violated the obligation to file a claim for bankruptcy of the organization in time, provided for in article 9 of the relevant law. However, the Irkutsk arbitration court,...

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 of the situation. The Economic Board recalled that the question of the validity ...

THE SUPREME COURT: HEAD OF COMPANY IS NOT OBLIGED TO APPLY FOR BANKRUPTCY AFTER THE FIRST DEBT

... of three instances unanimously took the side of the creditor, indicating that the debtor did not fulfill the obligations under the contract with one of the counterparties. As a result, a debt arose, which is the ground for filing an application for bankruptcy. However, the highest court did not consider this circumstance sufficient to bring the director to subsidiary liability. The board of the Supreme Court recalled that the obligation to file an insolvency petition for his (her) own company becomes necessary for its head at the moment when a bona fide and reasonable director, within the framework of normal management practice, objectively ...

THE SUBSIDIARY OF THE HEAD OF THE COUNTERPARTY COMPANY WILL BE CHECKED BY THE SUPREME COURT

The bankruptcy process of Finprombank (case no. A40-196703/2016) turned into subsidiary liability for Andrey Barinov, the former head of the Customs Card company, who managed the organization from the end ... ... 2.3 billion of debt from its balance sheet. Andrey Barinov disagreed with the court verdicts and filed a complaint with the Supreme Court. In his opinion, even a loss of 192 million could not be a reason for the bank's bankruptcy. In addition, the former ...

SUPREME COURT: WHEN ATTRACTING A SUBSIDIARY FOR UNPROFITABLE TRANSACTIONS, IT IS NECESSARY TO EVALUATE THE TRANSACTIONS THEMSELVES

... instances agreed with the arguments of the applicant in terms of bringing the defendants to subsidiary liability, referring to the fact that the partially violated rights of the... ... property damage, which entailed the impossibility of settlements with creditors. The Supreme Court of the Russian Federation sent the case for a new review and noted that... ... proof concerning whether these transactions led to the appearance of signs of objective bankruptcy or a significant aggravation of the situation of the property crisis. The...

THE SUPREME COURT CONFIRMED THE SUBSIDY OF THE EX-HEADS OF THE LEGION BANK

... arbitration court to attract five persons to the subsidiary, who were considered to have controlled the bank's activities before its bankruptcy. However, of the five persons mentioned in the application, the court held in March 2022 left only Sokerkin. After ... ... of the bank's board of directors. Subsequently, this decision was supported by the cassation. The last attempt to get rid of subsidiary liability was the complaint that Nekrasov and Brusentsev filed with the Supreme Court. However, Themis did not accept the complaint. Now all three of them will have to answer for the debts of the credit ...

THE SUBSIDY FOR THE EX-TOPS OF THE "INVESTMENT BANK" WAS UPHELD BY THE SUPREME COURT

The former heads of the "Investment Bank" must pay about 50 billion rubles as subsidiary liability. Ten persons tried to appeal the earlier decision on this to the Supreme Court of the Russian Federation. However, Judge Ivan Razumov did not transfer their cassation complaints for consideration by the Economic Board. The corresponding Ruling (No. 305-ES14-7445) was issued on December 30. As part of the bankruptcy case of Investbank, which lost its license in December 2013 and received the status of an insolvent credit institution ...

THE SUPREME COURT OF RUSSIA SUMMED UP THE RESULTS OF THE PURSUE OF SECONDARY LIABILITY ON THE DEBTOR’S CONTROLLERS

The Supreme Court has recently published a Review of Judicial Practice, which contains, among other things, a number of explanations of bankruptcy legislation. Some of the cases, to which the higher court has paid special attention, have already been previously covered by Rusbankrot. In particular, this is a process on the right of a shareholder to challenge a transaction of a company ...

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