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Alimirzoev & Trofimov Law Firm defended a former top manager of a state corporation from subsidiary liability

DATE: August 29, 2022 | AUTHOR: AT

The law firm Alimirzoev & Trofimov has defended a former top manager of a major Russian corporation from subsidiary liability for 33 million rubles.
The client was an employee of a major state corporation and had been appointed by his employer to the board of directors of an innovative subsidiary related to the development of a new type of lamp. A state grant was used to develop the project.
Subsequently, the grant was withdrawn, and the subsidiary company was declared bankrupt due to lack of funding.
The debtor’s trustee in bankruptcy filed a petition to bring the members of the board of directors to subsidiary liability.
Representatives of the law firm Alimirzoev & Trofimov prepared a legal position for the client in accordance with the current case law. After one year of court proceedings the court of the first instance refused to hold the client liable.
“The issue of possibility of involving members of the board of directors of debtors’ parent companies is still debatable, and case law is contradictory. In addition, there has been a clear recent bias in favor of the need to hold board members liable. The present case confirms that it remains possible to bring arguments to arbitration courts that there are no such grounds,” commented the representative of the law firm Alimirzoev & Trofimov.

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