The Commercial Procedural Code of Ukraine provided an opportunity for a stakeholder of legal entity, owning 10% or more of its authorized capital, to file a claim in the interests of the company for the reimbursement of losses caused to it by its own management (Article 54).
Despite the novelty of the rules and the lack of case law, Legal Alliance attorneys applied Article 54 to protect interests of the client. The company is in the process of bankruptcy, so the claim was filed just within the bankruptcy case. The courts of the first two instances disagreed with the position of the Legal Alliance Company, deciding that such statements should be filed as a separate lawsuit.
But the Supreme Court upheld the position of the Legal Alliance and came to the conclusion - disputes under Article 54 of the Commercial and Procedural Code associated with a subject that is in the process of bankruptcy, affect the liquidation mass and other significant circumstances of the process. And, therefore, should be considered within one proceeding - case of bankruptcy.
The client's interests were defended by counsel Vitaliy Savchuk in tandem with associate Natalia Abramovich.
Contact the attorneys: counsel Vitaliy Savchuk, savchuk@l-a.com.ua; associate Natalia Abramovich, abramovych@l-a.com.ua
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