On 16 October 2019, the business legal support committee and the corporate governance and investment committee of the Russian Managers Association held a joint meeting on the topic “Liability of executive bodies and board members for making managerial decisions: court practice dynamics”.
Suren Gortsunyan, a managing partner and the head of RGP’s Corporate Practice, gave a speech “Liability of directors in the times of the ‘New Paradigm’: when should one be worried and is it possible to defend oneself?”
Suren talked about the most notable cases of recent times, court practice trends, possible defence mechanisms and the prospects for developing performance standards for members of governing bodies in the context of the much discussed New Paradigm (link to the document It’s Time To Adopt The New Paradigm on the website of Wachtell, Lipton, Rosen & Katz).
In addition to RGP, the meeting was attended by representatives of a number of prominent Russian and international law firms, as well as by Ivan Rodionov, a Professor at the School of Finance of the National Research University – Higher School of Economics.
The participants also discussed the issues of liability of board members to the corporation, criminal liability of top managers for making managerial decisions, changes in the liability insurance market, etc.
Anastasia Shkarina, a chairwoman of the business legal support committee of the Russian Managers Association and General Counsel at Unilever Rus, and Igor Belikov, a chairman of the corporate governance and investment committee of the Russian Managers Association and a director of the Russian Institute of Directors, acted as discussion moderators.
Rybalkin, Gortsunyan & Partners (RGP) is an independent law firm established in 2018 in Russia, supporting clients from all over the world in their business dealings involving Russia and CIS countries. Our firm offers unparalleled expertise in foreign legal matters to Russian companies with significant international presence.
We are a cohesive team of seasoned professionals, highly ranked in all aspects of dispute resolution and corporate work and with significant international expertise, gained in leading international law firms.
Our lawyers have worked on the largest corporate deals, investigations and disputes in the history of modern Russia and represented clients in 175 jurisdictions worldwide.
Maria Bannova, BD Manager
+7 (495) 139 65 00