The Grand Chamber of the Supreme Court has made the first ever decision to impose liability on the controlling persons of a bank that was withdrawn from the market due to insolvency.
This decision not only sets records in terms of the amount of damages caused by the misconduct of officials, but also provides guidance that can be used in corporate disputes.
The courts of first instance and appeal saw no grounds for recovery from the management, which had allocated 60% of the bank's assets to purchase questionable securities. The Grand Chamber of the Supreme Court took the courage to see through the misconduct.
Why the decision of the Grand Chamber became fateful and what positions of the Court should be paid attention to - Yulia Kurylo, attorney at law, expert on vicarious liability of business owners and managers, tells in an exclusive material for the publication «Yuridicheskaya Praktika»: https://pravo.ua/rekordy-vidpovidalnosti/
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