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Claims for Damages Against Company Directors: Summary Review for 2016 and the First Six Months of 2017
25 October 2017
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The number of claims filed against members of Russian company management bodies (“directors”) for damages caused to the companies by their actions has increased substantially during the last four years and approximately half of those claims have been successful.
A review of about 400 judgements rendered over the period from 1 January 2016 to 1 July 2017 shows that Russian courts have upheld claims where the company has been damaged because a director engaged in bad faith conduct or acted unreasonably. The types of conduct that have led to successful claims have included a wide range of actions, including self-dealing, failure to perform the obligations imposed on the company, failure to obtain and consider available information, and failure to control the actions of the company’s employees.
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