A brief presentation of the essay on the subsidiary liability of shareholders and directors by comparing the approach adopted by the Russian Courts – as recently confirmed by the Supreme Courts – with those of other legal systems, the Italian one in particular, to the debated topic of the identification of the circumstances the occurrence of which make it possible to pierce the corporate veil, a topic that would deserve further attention by the Italian legislators, too. 

The existence of a legal entity can be compared with human life, i.e. establishment (birth), activities (human life) and liquidation (death). However, in each of the comparable phenomena above, from the point of view of law, there are significant differences. In the framework of this article, we focus on the consideration of the legal ‘death’ (liquidation) of legal entities, and study this issue in relation to certain types of corporations (business entities).

Президиум Верховного Суда РФ утвердил Обзор судебной практики разрешения споров, связанных с установлением в процедурах банкротства требований лиц, контролирующих должника и аффилированных с ним лиц.

В Обзоре даны важные разъяснения относительно специфики участия в делах о банкротстве лиц, аффилированных с должником и (или) контролирующих его деятельность.

On December 21, 2017, the Plenum of the Supreme Court of the Russian Federation adopted the resolution regarding the liability of the controlling persons in the event of company bankruptcy. The resolution clarified the application of the new law No. 266-FZ dated July 29, 2017 that introduced amendments to the Russian Law on Bankruptcy, including the new chapter III.2 “Liability of the debtor’s executive and other persons in a bankruptcy case.”

Second stage of the tax amnesty in Russia

A Law extending the tax amnesty of capital and the tax-free liquidation of foreign companies entered into force in Russia on 1 March 2018. The tax amnesty has been extended until the end of February 2019.

General context

The statutory regulation of cryptocurrency in Russia is yet to be made compatible with the current dynamics of digital assets.

Deposit Ins. Agency v. Leontiev, No. 17-MC-00414 (S.D.N.Y. July 23, 2018) [click for opinion]

Nothing lasts forever – a legal entity may close by choice or circumstance. It is often the case that during liquidation procedures and following settlements with creditors, rights holders are no longer able to manage their trademarks. This article addresses the fate of those trademarks. The liquidation of a legal entity does not automatically result in a transfer of rights and obligations. However, after settlements are made, it is common for the legal entity’s property to be transferred to the founder of that entity that has proprietary or corporate rights.

Russia's Supreme Court guidelines reduce high net worth individuals' ("HNWIs") asset protection opportunities and potentially create risks of additional creditor claims against HNWIs after divorce and asset division between the HNWI and his/her spouse.1

In addition, these guidelines enable third parties, notably creditors of the ex-spouse, to get access to information regarding the HNWI's disputed assets. We summarize the most important points of these guidelines below.

Key developments

The Constitutional Court of the Russian Federation has obliged a tax authority to check the relevancy of the claim to recognize a debtor as a bankrupt in terms of prospects and economic feasibility of initiating such dispute.