21.01.2021 The Arbitration Court of the Republic of Tatarstan completed the review of high-profile case on bringing former managers of a credit institution to subsidiary liability for the obligations of the debtor bank. A team of lawyers led by Sergei Sadovoy and Tatiana Tsepkina represented the interests of a client who was previously a member of the board of a well-known bank, which was subsequently declared bankrupt. L&P attorneys presented irrefutable evidence that the claims of the Deposit Insurance Agency were unfounded. In addition, the court rightly drew attention to external factors that contributed to the bankruptcy of the debtor bank, in particular, local banking crisis in the Republic of Tatarstan in 2016, which affected the five largest banks in the region, excluding the possibility of continuing the banking business on the same terms.
Linnikov & Partners team sincerely hopes that a fair and just judgment of the Arbitration Court of the Republic of Tatarstan will become another important precedent for breaking the unhealthy practice of bringing persons to subsidiary liability only for the fact of joining the bank’s governing bodies.