Media & Resources
The law firm Alimirzoev & Trofimov succeeded in a case on bringing to subsidiary liability
DATE: August 22, 2023 | AUTHOR: AT
“Alimirzoev & Trofimov” successfully defended the interests of a former top manager of a large Russian corporation in a claim for subsidiary liability in connection with the bankruptcy of two Russian companies for a total amount of over 90 million RUB.
The client was an employee of a large state-owned corporation and was appointed by the corporation as a member of the board of directors of two subsidiaries of the corporation.
Subsequently, the subsidiaries were declared bankrupt due to the suspension of financing (the grant provided to the companies was withdrawn).
Representatives of “Alimirzoev & Trofimov” prepared the client’s legal position in accordance with the current practice of law enforcement.
After more than two years of litigation, the appellate courts upheld the decisions and refused to hold the client’s subsidiary liable.
“Recently, there has been a clear bias towards holding parent company directors liable for their subsidiaries, including in high-tech industries where activities involve high entrepreneurial risk. The presented case confirm that it is still possible to argue to arbitration courts that there are no such grounds,” commented Yuriy Semenov, lawyer of “Alimirzoev & Trofimov” law firm.
If you have any questions on this topic, you may contact our lawyer Yuriy Semenov semenov@atlawyers.com
