'; Protection from subsidiary liability » ANP ZENIT legal

Protection from subsidiary liability

Your once reliable partner went bankrupt, assets were withdrawn, creditors were left with nothing, and former leaders are alive and well... How to return the lost? You were once the director of a company and tried to work honestly, but suddenly you received a lawsuit to recover the company's debts from you... How to protect yourself from unfounded claims and not pay for other people's sins? In the event that the principal debtor is unable to satisfy the creditor's claim, this claim may be brought against the person bearing subsidiary liability.

Who can be held vicariously liable

The approach of the courts is getting tougher every year, and if earlier it was mainly the debtor's managers who were brought to subsidiary liability, now they are forced to pay the debts of the company and the participants/shareholders, the chief accountant, members of the board of directors, the real beneficiaries in the transactions and, in general, any persons who could determine actions of the debtor.

Some statistics

  • 01.
    The number of applications for subsidiary liability filed in 2019 alone increased by 12.2% to 4,366.
  • 02.
    The number of satisfied applications is 1289, their share is 30%.
  • 03.
    The amount of subsidiary liability confirmed by the courts in all bankruptcy cases is 303.1 billion rubles, which is 2 times more than a year earlier.

(according to Interfax)

Risks and opportunities for bringing to subsidiary liability

Vicarious liability threatens not only with foreclosure of personal property and a ban on travel to the border, but also the risk of criminal liability for embezzlement, fraud, misconduct in bankruptcy or malicious debt evasion. Personal bankruptcy will not save either, because, in accordance with the law, debts collected in the form of subsidiary liability are not written off in case of personal bankruptcy.

We can help you

And in the event that you have a desire to attract persons related to the main debtor to pay the debt, and if you yourself have become the target of persistent creditors, we will do our best to help you - we will analyze the situation, prepare all the necessary procedural documents and represent your interests in court. In one bankruptcy case, there can be dozens of volumes of documents, up to hundreds of different claims against different persons are considered, and in order to orient yourself, study all the evidence, form your position and present counterarguments, you need special knowledge and experience. At the same time, we must not forget that it is important not only to do everything qualitatively. Just as important, on time.

Why are we confident in our abilities?

  • 01.
    Our team has been involved in vicarious liability litigation for more than 225 000 000 dollars in recent years
  • 02.
    Today we successfully represent the largest Russian companies and banks in bankruptcy cases.
  • 03.
    Our experts are recognized as one of the strongest in the field of bankruptcy cases, actively cooperate with the National Association «Bankruptcy Club», know all the subtleties of conducting such cases and actually participate in the formation of judicial practice.
  • 04.
    In our practice, we have been on both sides - both on the side of creditors and on the side of debtors, so we know what evidence needs to be collected, how to build an optimal business strategy and how to win.

From our practice

On the creditor's side. The debtor company knew that it would not be able to repay the debt to creditors in the amount of more than 3 billion rubles, and prepared for bankruptcy in advance. Prior to contacting us, creditors did not particularly expect to repay their debts. After studying the case, we requested additional documents, discovered new evidence and recovered damages from the last two heads of the debtor. The actual receipt of money became possible also due to the fact that immediately after joining the case, the client and I managed to seize the property of the directors. On the side of the debtor. The former head of a large debtor construction company was involved in a bankruptcy case. He was required to bring to subsidiary liability in the amount of 300 million rubles and charged with unfair actions in the performance of work contracts. Thanks to a well-formed position and the establishment of new evidence, we managed to convince the court of the reasonableness and good faith of the former director and the absence of his guilt in the bankruptcy of the company. The creditors' claims for the recovery of 300 million rubles were denied.