Skip to main content
SpringerLink
Log in

Subsidiary Liability of Controlling Persons of Industrial Enterprises: Main Legal Conflicts

  • Conference paper
  • First Online:
Engineering Economics: Decisions and Solutions from Eurasian Perspective (ENGINEERING ECONOMICS WEEK 2020)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 139))

Included in the following conference series:

Abstract

This work describes specific features of applying the institute of subsidiary liability of controlling persons of the enterprise. Creditors who have claims of non-fulfillment of obligations have been given the opportunity to pursue unlimited civil law actions against persons that are not directly related to them, which creates a certain imbalance and hinders the legitimate interests of other participants in the legal relations under consideration, in particular, the interests of managers. This research is aimed at studying the state and practice of applying the institute of subsidiary liability of controlling persons at enterprises and the doctrine of “removing the corporate veil” in Russia using methods of system and comparative analysis. The conducted research allowed us to establish a significant discrepancy between the Russian and international practices of applying the doctrine of “removing the corporate veil”, and the presence of a clear imbalance in favor of creditors. As a result, it is concluded that there is a need for detailed regulation in the relevant legislation of terms and procedures for applying subsidiary liability of controlling persons at enterprises. The methodology of the research comprises historical, comparative, formal-legal and functional methods, systemic approach.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Similar content being viewed by others

References

  1. Asai, K.: Limited liability and corporate efficiency. Int. Rev. Law Econ. 62, 105886 (2020)

    Article  Google Scholar 

  2. Boubaker, S., Chebbi, K., Grira, J.: Top management insider debt and corporate social responsibility? Evidence from the US. The Quarterly Review of Economics and Finance (2019). https://doi.org/10.1016/j.qref.2019.12.001. Accessed 12 Apr 2020. in Press

  3. Civil Code of the Russian Federation dated 30.11.1994 N 51-FZ. http://www.consultant.ru/document/cons_doc_LAW_5142/. Accessed 20 Apr 2020

  4. Egorov, A.V., Usacheva, K.A.: Subsidiary liability for bringing to bankruptcy – an unsuccessful equivalent of the Western doctrine of removing corporate cover. Vestnik VAS RF 12, 20–65 (2013)

    Google Scholar 

  5. Erhemjamts, O., Huang, K.: Institutional ownership horizon, corporate social responsibility and shareholder value. J. Bus. Res. 105, 61–79 (2019)

    Article  Google Scholar 

  6. García-Granero, A., Fernández-Mesa, A., Jansen, J.J.P., Vega-Jurado, J.: Top management team diversity and ambidexterity: the contingent role of shared responsibility and CEO cognitive trust. Long Range Plan. 51(6), 881–893 (2017)

    Article  Google Scholar 

  7. Kamyshansky, V.P., Tarasenko, A.N.: Some problems of the institute of subsidiary liability of persons controlling the debtor. Civ. Law 1, 40–42 (2016)

    Google Scholar 

  8. Littlewood, D.: Corporate responsibilities. Int. Encycl. Hum. Geogr. 2, 403–410 (2020)

    Article  Google Scholar 

  9. Lomakin, D., Gintovt, O.: Responsibility of controlling persons: the legal nature and mechanism of attraction to it. Econ. Law 1, 12–39 (2016)

    Google Scholar 

  10. Miftakhutdinov, R.: The plenary clearly indicated that subsidiary liability applies in exceptional cases: interview with. Law 7, 12 (2018)

    Google Scholar 

  11. Novak, D.V.: Integrity in corporate law. Bull. Civ. Law 2, 13–23 (2017)

    Article  Google Scholar 

  12. Pletnev, D., Barkhatov, V.: Business success of small and medium sized enterprises in Russia and social responsibility of managers. Proc. Soc. Behav. Sci. 221, 185–193 (2016)

    Article  Google Scholar 

  13. Shitkina, I.S.: Responsibility in corporate legal relations. Econ. Law 6, 51–117 (2015)

    Google Scholar 

  14. Slonevskaya, A.Yu.: Institute of subsidiary liability of persons controlling a bankrupt debtor. Bull. Econ. Justice 1, 103–115 (2017)

    Google Scholar 

  15. Suvorov, E.D.: Subsidiary liability for the debtor’s obligations in the bankruptcy process: law enforcement issues. Law 12, 148–155 (2013)

    Google Scholar 

  16. Tarasov, I.T.: The Doctrine of Joint-Stock Companies. Statut, Moscow (2000)

    Google Scholar 

  17. Wormser, I.M.: Piercing the veil of corporate entity. Columbia Law Rev. 12(6), 496–518 (1912)

    Article  Google Scholar 

  18. Zhao, T., Xiao, X.: The impact of corporate social responsibility on financial constraints: does the life cycle stage of a firm matter? Int. Rev. Econ. Financ. 63, 76–93 (2018)

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Moscow State Institute of International Relations, MGIMO University, Moscow, Russia

    Y. E. Monastyrsky

Authors
  1. Y. E. Monastyrsky
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Y. E. Monastyrsky .

Editor information

Editors and Affiliations

  1. Applied Management Department, Samara State University of Economics, Samara, Russia

    Svetlana Igorevna Ashmarina

  2. Department of Applied Management, Samara State University of Economics, Samara, Russia

    Valentina Vyacheslavovna Mantulenko

  3. Institute of Technology and Business in České Budějovice, České Budějovice, Czech Republic

    Marek Vochozka

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Monastyrsky, Y.E. (2021). Subsidiary Liability of Controlling Persons of Industrial Enterprises: Main Legal Conflicts. In: Ashmarina, S., Mantulenko, V., Vochozka, M. (eds) Engineering Economics: Decisions and Solutions from Eurasian Perspective. ENGINEERING ECONOMICS WEEK 2020. Lecture Notes in Networks and Systems, vol 139. Springer, Cham. https://doi.org/10.1007/978-3-030-53277-2_31

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-53277-2_31

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-53276-5

  • Online ISBN: 978-3-030-53277-2

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics

Search

Navigation