On October 24, Pavlova & Partners and Legal Insight magazine conducted a joint business breakfast for inhouse lawyers dedicated to discussion of new rules of Chapter III.2 of the Bankruptcy Law on the liability of managers, founders and other persons controlling the debtor. More than 50 employees of legal departments of large Russian and foreign companies took part in the event.
At opening of the event, Rustem Miftakhutdinov, Candidate of Juridical Sciences, senior lecturer at the Moscow State Law Academy, retired judge of the RF Supreme Arbitration Court, spoke about the origins and legal nature of subsidiary liability in bankruptcy, differences of this concept from the institution of collecting damages, prerequisites and the importance of reform of the provisions on the liability of the company's top executives.
Sergei Levichev, Head of Bankruptcy Practice at Pavlova & Partners , told the listeners about the liability of persons controlling the debtor for failing to file an application for bankruptcy and for the impossibility of full repayment of creditors' claims. Particular interest of the participants was caused by the presentation of peculiarities of application in practice and key new norms of the Law on Bankruptcy concerning the presumptions of a cause-effect relationship between the actions of persons controlling the debtor and resulting bankruptcy.
Alexey Altukhov, Head of Bankruptcy Projects at Pavlova & Partners , made a presentation on the problems of proving and sharing the burden of proof in disputes on bringing to subsidiary liability, as well as on the specifics of considering applications for subsidiary liability outside the framework of the bankruptcy case, enforcement of a court order and interim measures.