Sergei Bakeshin told Novy Prospect about possibilities of subsidiary liability for former top management of «Sevkabel» factory
On 17th of June the Commercial Court of Saint-Petersburg and Leningrad Oblast has dismissed litigation proceedings on the application for reclamation of documentation and material values of PK «Sevkabel» LLC from its former top-management. The application was withdrawn by the new bankruptcy manager of PK «Sevkabel» Kirill Pestryuakov. The dismissal of this case is very important for the former top-management of «Sevkabel» as it eliminates the ground for subsidiary liability.
«When judicial decision on dismissal of litigation proceedings on the application for reclamation of documentation and material values comes into legal force, the Court will have to recommence litigation proceedings on bringing the Controlling Company «Politbureau» and top-management to subsidiary liability» – told Sergei Bakeshin, Head of Dispute Resolution and Insolvency Practice at Maxima Legal. The expert pointed out that since nontransfer of documentation and material values was the only ground for subsidiary liability «when judicial decision comes into legal force, the Court will have to dismiss interim measures».
Sergei also stated that «the new bankruptcy manager has already filed an application for bringing managers affiliated with Bank «Trust» to subsidiary liability and probably won’t be supporting litigations proceedings on the former top-management or will even withdraw this application». In Sergei’s opinion such procedural behavior of the new bankruptcy manager can be a sign of his affiliation with the former «Sevkabel» top management – Controlling Company «Politbureau» and others.
To read the full article (in Russian) please visit Novy Prospect website >>>