ALRUD lawyers defended the interests of a foreign defendant in a dispute over subsidiary liability and recovery of damages in the bankruptcy of a major glass manufacturer
April, 2023 - Moscow, Russia
ALRUD specialists provided support to the world leader in production of glassware, engineering company Slostroy Turnov CZ, s.r.o., which, after a major investment in a Russian project resulting in the bankruptcy of the company, unexpectedly found itself as a defendant in a petition for subsidiary liability and recovery of damages.
In this case, the majority creditor together with the bankruptcy trustee made all possible efforts to shift the liability on to the shoulders of the foreign counterparty, intending to collect money from it to satisfy the claims of all existing creditors of the debtor in the amount of more than three billion roubles.
> 3 billion
roubles
ALRUD's team worked out a comprehensive defence strategy, proved that the trustee did not have the status of a debtor's controlling person and that there were no unfair practices on the trustee's side that could have led to the bankruptcy of the plant. The separate dispute resulted in rejection of the opponents' claims in full. The appeal court also agreed with the position of ALRUD lawyers and upheld the decision of the court of first instance.
The ALRUD Dispute Resolution, Restructuring and Insolvency and Commercial Practice team headed by Magomed Gasanov, Partner, comprising Boris Ostroukhov, Of Counsel, Denis Bekker, Senior Associate, and Associates Anna Ryzhikova and Vladislav Lapushkin, worked on the project.
