Restructuring and bankruptcy

Protecting interests of the General Director and the former liquidator of a Company in a case of subsidiary liability

By 12.11.2018 No Comments

The Legal Studio lawyers’ team developed two legal positions, one of which was based on the fact of a client, by the time the bankruptcy procedure began, having the status of a sole director of the Company for which the bankruptcy procedure had been introduced, and therefore based on that fact could not be subject to subsidiary liability. The second position was based on the fact of voluntary execution of the court decision, according to which a bankruptcy liquidator was given a responsibility to transfer documents, stamps and other material assets.

Due to the correctly chosen defence strategy, the court recognized the bankruptcy trustee’s claims as invalid and released the clients from the obligation to jointly repay the damages.