Sergei Bakeshin has commented for Delovoy Peterburg on the statistics of bringing to subsidiary liability

The Commercial Court of St Petersburg and the Leningrad Region refused to bring to subsidiary liability the beneficiaries of two large business empires: ex-senator Alexander Sabadash for  RUB 4.3 bn debts of Liviz vodka plant as well as Mushvig Abdullayev, former owner of Trade House Intertorg, which managed  SPAR, Semya and Narodny retail chains and owed creditors about RUB 16 bn.

At the same time, according to the Supreme Court of the Russian Federation, from December to June this year, commercial courts have satisfied 60% of applications for subsidiary liability.

“In the first half of 2023, the number of filed applications on bringing to subsidiary liability slightly decreased compared to the indicators of 2022, but it exceeded for the first time the number of decisions on recognising companies as bankrupt and opening bankruptcy proceedings. At the same time, the number of satisfied applications and the total amount of liability increased. Also, the number of persons brought to subsidiary liability has been steadily growing for several years. That is, despite the fact that the share of satisfied applications continues to fluctuate around the 50% mark, the chances of being brought to subsidiary liability are growing due to the increase in the number of bankruptcy cases in which such applications are filed and the increase in the number of defendants for each application,” Sergei Bakeshin, Councel, Head of Dispute Resolution & Insolvency practice at Maxima Legal, told Delovoy Peterburg newspaper.

To read the full article (in Russian) please see Delovy Peterburg newspaper`s website >>>