The problems caused by the bankruptcy of companies are increasingly going beyond the purely entrepreneurial sphere, invading the area of personal property rights of business owners and top managers, and the term “subsidiary liability” has become one of the most used in describing the risks associated with business bankruptcy. The times when the bankruptcy procedures of companies were used by their owners in order to avoid personal liability and protect other assets are irrevocably gone. In such a new reality, the specialized practice of the Bureau has become one of the most popular, helping our clients not only to resolve problems arising in bankruptcy proceedings, but also to prevent the risks of their occurrence.
Representation of creditors’ interests
Assessment of the prospects for initiating bankruptcy of the debtor
- general analysis of the possibilities of prosecution of the debtor and its controlling persons;
- advising on the financing of insolvency proceedings;
- assessment of risks of subordination of claims;
Counteracting the Unfair Use of Bankruptcy Procedures
- contesting the claims of unscrupulous creditors;
- challenging the debtor’s transactions;
- recovery of losses from controlling persons of the debtor.
- support of the procedure of external management of a regional airline in the North-Western Federal District, legal support of the creation of a subsidiary, development of a settlement agreement providing for the satisfaction of creditors’ claims by transferring shares, representation of creditors’ interests when the agreement is approved by the arbitration court;
- representation of the creditor’s interests in the procedures of external management and bankruptcy proceedings in relation to a metallurgical plant in the Chelyabinsk region;
- participation in the bankruptcy case and with subsequent support of the reorganization (separation) of a machine-building company in the Kemerovo region;
- attraction of controlling persons of several credit institutions to subsidiary liability and recovery of losses from them totaling more than 15 billion rubles
Protection of the debtor’s right
Elimination of bankruptcy risks
- risk audit of the company, managers, shareholders;
- recommendations, support of measures to reduce the risks of bankruptcy or unlimited liability for such risks.
Interaction with creditors and the arbitration manager
- assistance to the interim/bankruptcy trustee
Restructuring of claims against the debtor
- settlement of claims of individual creditors;
- redemption of claim rights;
- replacement of debtor’s assets;
Countering the imposition of subsidiary liability on business owners and managers
- advising on the prevention of risks of bringing to subsidiary liability;
- judicial protection of controlling persons of the debtor;
- support at all stages of bankruptcy procedures of the largest alcoholic beverage company in Moscow, development of a settlement agreement; legal support for the creation of a subsidiary;
- protection of the debtor — a large technological drilling company in the Tyumen region in a bankruptcy case that ended with the signing of a settlement agreement;
- providing legal assistance in the bankruptcy of one of the largest fish production enterprises in Moscow. The case was completed with the conclusion of a settlement agreement with creditors;
- protection of the rights of persons controlling the debtor from the recovery of more than 10 billion rubles in the bankruptcy case of a petrochemical equipment plant in the Rostov region;
- protection of the rights of shareholders, members of the board of directors and general directors of the debtor in cases involving their subsidiary liability and recovery of losses totaling more than 300 billion rubles.