Novy Prospect and Mashnews quoted Sergei Bakeshin in the atricles about the attempt of the bank to bankrupt the co-owner of Ladoga DSK

Russian Bank for Support of Small and Medium Enterprises applied to the Commercial Court of St Petersburg and the Leningrad Region to declare insolvent Yuri Vorobyov, CEO and, according to market participants, co-owner of Ladoga DSK, which is currently in bankruptcy. The amount of the bank’s claims against Yuri Vorobyov is RUB 63.5 mn.

‘If a creditor has an opportunity to file a bankruptcy petition against the CEO of the debtor company (as well as its participant or other affiliated person), then in the absolute majority of cases the creditor will do so. Which is possible, for example, if the director was a guarantor, and this is a common situation in relations with banks,’ Sergei Bakeshin, Counsel, Head of Dispute Resolution & Insolvency Practice at Maxima Legal, told Novy Prospect.

According to the expert, the purpose of filing a petition may be both to collect a debt from an individual and to put pressure on him in order to achieve a particular behaviour in the bankruptcy case of a company. For example, to force the director to disclose information about the company’s activities and its assets, to force him to negotiate the redemption of the claim.

In general, the likelihood of the debtor actually recovering the amounts demanded depends on the size of the claims and the state of the debtor. ‘But in any case, the greater the number of persons from whom the debt is recovered, the higher the probability of recovery,’ Sergei Bakeshin noted.

It should be noted that Sergei’s comments were also quoted in the Mashnews article.

To read the full article (in Russian), please, see Novy Prospect website >>>
To read the full article (in Russian), please, seee Mashnews website >>>