Subsidiary liability of the persons controlling a debtor

• Main Author: Borisovich Yermilov Valery
• Format: Article
• Language: English
• Published: EDP Sciences 2021-01-01
• Series: SHS Web of Conferences
• Subjects: insolvency; bankruptcy; subsidiary liability; person controlling; a debtor, creditor
• Online Access: https://www.shs-conferences.org/articles/shsconf/pdf/2021/29/shsconf_rudnltmrp2021_04015.pdf

This article gives a general description of Chapter III.2 of the Bankruptcy Law and considers the issues related to the moratorium on bankruptcy. Attention is drawn to the changes that have been introduced in recent years in the legislation on bringing to the subsidiary liability of persons controlling a debtor for the inability to pay creditors’ claims in full, as well as the obligation to apply for the debtor and the liability for failure to do so (untimely application). The author, on the basis of the study, concludes that it is necessary to further improve the legislation on the liability of the head of the debtor and other persons in bankruptcy cases.