Maxima Legal leaded a business breakfast on issues of directors and beneficiaries incurring personal liability for the debts of companies

On 6 February, Maxima Legal leaded a business breakfast titled ‘Guilty without guilt or we are all in this together. New rules on directors and beneficiaries incurring personal liability for the debts of companies’.

In the summer of 2017, new sections were added to Russian insolvency law that dramatically changed the procedures for individuals controlling a debtor to incur personal liability.

Sergey Bakeshin, Senior Associate and Head of the Dispute Resolution department, made a presentetion concearning the basis upon which a controlling individual can be held personally liable and under what situations such liability can arise.

Konstantin Boytsov, Senior Associate and Head of the Property and Construction department, made a speech on the topic of challenging transactions of a debtor on the basis of the special provisions provided for in the Federal Law on Insolvency as a prerequisite for controlling persons incurring personal liability.