Head of FBK Legal' Corporate Law practice, Alexander Ermolenko made a report at "100 steps forwards: business and government" forum.

‘100 steps forwards: business and government’ forum organized for corporate lawyer in cooperation with the Russian Agency for Legal and Juridical Information (RAPSI) and ‘Corporate Lawyer’ magazine, took place in press-center of RIA Novosti on October 3 – 4, 2012. Head of FBK Legal‘s Corporate Law practice, Alexander Ermolenko made a report during the session ‘Economic and legal protection for business’. Enlargement of directors’ and top-management’s liability for improper actions was the subject of the report. ‘Legal norms related to recovery of damage from top-management have been introduced since about 20 years ago. Nevertheless they have not been applied in practice until recently’,- FBK partner says. According to him, enlargement of directors’ liability is now not only requested by the lawmaker but also confirmed by court practice. A precedent was created by the Russian SCA in March, this year. Case about 600 million rubles of damage to be recovered from a top-manager was resolved to the benefit of plaintiffs. ‘This sort of juridical practice is an obviously positive trend and additional protection from the shareholders’ and owners’ point of view. But it’s an additional risk for the directors. They have to take this liability for their actions, criminal and propriety liability included, into account when concluding deals,’ – the lawyer says.
The even was attended by over 150 participants, presented by the head of legal departments and divisions, corporate lawyers, vice-presidents for legal issues from the companies engaged in different business-sectors.