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Andrii Spektor took part in the 1st East Ukrainian Bankruptcy Forum

Andrii Spektor
Date: 15 Nov , 8:20
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"Subsidiary liability: who, how, when and what for?" – these were the questions from the report of the senior partner of the “Laboratory of Bankruptcy” Andrii Spektor during the Eastern Ukrainian Bankruptcy Forum which took place on 29 October - 2021 in Kharkiv.


According to his words, the concept of subsidiary liability has existed in Ukrainian legislation since 1992 and was enshrined in Part 5 of Article 41 of the Law "About restoring the solvency of the debtor or declaring him bankrupt." At the same time, it really became "trendy" in judicial practice only after the introduction of such a concept in Article 61 of the Code of Ukraine on Bankruptcy Procedures.


Now, when we talk about the "subsidiary", we mean an independent civil liability which is bared by the founders (participants, shareholders) or other persons, including the head of the debtor in case of confirmation of their guilt in proving legal persons (the debtor in the bankruptcy case) to the state of insolvency.


It should be noted that the main reason for the application of such liability is the proven guilt of these persons in bringing the company to insolvency. Moreover, the proper proof of guilt is a certain indicator of the completeness of the liquidator's actions.


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Andrii Spektor

Andrii Spektor

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