Maxima Legal has led a business breakfast on the topic of recent changes made to the law for directors and beneficiaries incurring personal liability for the debts of a company

On 29 November at Maxima Legal’s office took place a business breakfast titled ‘Guilty without guilt or we are all in this together.  The new rules for directors and beneficiaries incurring liability for company debts’.
In the summer of this year the law on insolvency was amended to include a chapter of changes for the incurring of subsidiary liability for controlling individuals of a company.
Sergey Bakeshin, Senior Associate and Head of the Dispute Resolution Practice, talked with participants at the seminar about on what basis and under what kinds of circumstances a controlling individual can incur subsidiary liability.
Sergey also explained what procedures must be followed when a controlling person of a company is to incur subsidiary liability, who initiates such procedures and how to determine the extent of the individual’s liability.
Konstantin Boytsov, Senior Associate and Head of the Property and Construction Practice, gave a presentation on the topic of challenging transactions entering into under the special provisions provided for in the Federal Law on Insolvency as a prerequisite for controlling persons incurring subsidiary liability.