BGP Litigation senior associate Denis Savin speaks with Interfax about the courts' transition to applying the new rules on secondary liability of beneficiaries in corporate bankruptcies
09.12.2016

"Asset stripping by a debtor company during the course of a tax audit is a risky method of avoiding tax claims, and the mechanism of corporate bankruptcy will not help, says Denis Savin, senior associate at BGP Litigation. Secondary liability can be applied on a number of grounds: interested party transactions, suspicious transactions (to the benefit of the party in question or to the benefit of third parties), if creditors' property interests are adversely affected – and if things go so far as bankruptcy, then they have been adversely affected – and a lack of accounting documentation or misrepresentation in the financial statements, he explains. But now a significant new ground has been added: secondary liability can be imposed on controlling parties. The decree in this case clearly shows how the presumption of innocence will work in that case, says D. Savin".

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