Search

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

... subsidiary liability, was submitted to the Arbitration Court of the 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 ...

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

... was the reference to the resolution of the Plenum of the Supreme Court of Russia of 2017 No. 53, according to which, if the bankruptcy proceedings were terminated even before the introduction of the first insolvency procedure, the applicant has the right to file a separate claim on attracting persons controlling the failed debtor to the subsidiary liability. In such a case, it is important that the debt to the creditor is confirmed by a court decision, as in 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, this restorative claim was subsequently included in the debtor's register. The court of first instance ...

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

... for bankruptcy, the latter had already had the signs of insolvency. They, in particular, 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

... district court sent the case for reconsideration, with which the Supreme Court of Russia did not agree with such a decision. The Economic Board pointed out that it was not possible to re-consider the claim. The fact is that there were two claims for the debtor's bankruptcy and, as a consequence, for the subsidiary liability of the persons controlling him. In the first case, the court rejected the claims of the manager, citing the lack of proof of the relationship between the manager's fault and the damage caused. Subsequently, the proceedings on this ...

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 ... ... appeal and the district rejected it. The The Supreme court of Russia put an end to the situation. The question concerned the bankruptcy of a credit organization, whose leaders, on the assumption of the manager, were engaged in issuing irrecoverable loans,...

Sorted by relevance | Sort by date