Sergei Bakeshin has commented for RBC on Rosbank declaring St Petersburg businessman, Maxim Ivanov, bankrupt

Sergei Bakeshin - Counsel

Rosbank petitioned for the bankruptcy of St Petersburg businessman Maxim Ivanov, affiliated with Ligovskoye LLC and a number of VTF Foodline distribution companies, which the bank requested to be declared insolvent last year.

Assessing the prospects of litigation with Rosbank, the Head of the Dispute Resolution and Insolvency practice at Maxima Legal, Sergei Bakeshin, explained to RBC Petersburg two possible scenarios. The first consists of bringing the company’s controlling persons to subsidiary liability and, the second in relation to claims against the guarantor.

“Banks, issuing loans to companies, as a rule, enter into surety agreements with their directors and owners. Most likely, such an agreement was entered into with Maxim Ivanov, because he was not brought to subsidiary liability in the cases of insolvency of the Foodline group, but this did not prevent the bank from filing a petition for bankruptcy”, Sergei explained.

To read the full article (in Russian), please see the RBC website >>>