The lawyer pointed out the risk of a criminal case in bankruptcy
Lawyer Alexander Kazus said that in case of bankruptcy of companies, managers, founders and actual owners can be held both vicariously and criminally liable.
In conversation with the agency RuNews24.Ru On Thursday, February 26, he explained that subsidiary liability is of a civil nature and involves the repayment of debts to creditors. At the same time, its presence does not always mean criminal prosecution, however, when a guilty verdict is passed, a person may also be held vicariously liable.
The expert noted that subsidiary liability occurs if the controlling persons are guilty of bringing the company to bankruptcy, for example, they caused damage to creditors, hid documents or distorted financial statements. According to him, criminal cases can be initiated both under special articles on bankruptcy — for concealment of property, forgery of documents or intentional bankruptcy — and under the article on fraud.
The lawyer added that criminal cases are most often initiated by the arbitration administrator when signs of fictitious or intentional bankruptcy are identified. He explained that bankruptcy is considered intentional when a company is deliberately brought to the point of being unable to pay its debts, and fictitious is a false declaration of bankruptcy if funds are available.
On February 22, the Bureau of Credit Histories (BKI) Scoring Bureau reported that the majority of Russian citizens who are officially declared bankrupt have a total debt of no more than 500 thousand rubles. Debts in the amount of 1 million to 2.5 million rubles were found in 120 thousand bankrupts. The amount of 2.5 million to 5 million rubles is owed by 39.3 thousand people.
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