Russian legislation provides for certain types of management (and/or founders-of-legal-entities’) liability for deliberate insolvency. Issues of administrative and criminal liability by founders and management have become real problems. It is impossible for a company’s management to ignore the possibility of administrative or criminal prosecution. Yet company management and founders who often consider themselves as being safe have a not liability that is very real. This article sets out the main provisions relating to companies before examining civil liability for deliberate insolvency and describing the provisions relating to administrative and criminal liability.
Business Law Review