Secondary Liability: Regulation and Practice (chaired by the Russian Federal Tax Service)

Thursday , 18 May
15:00 - 16:15

Hall #1, General Staff Building (6-8, Dvortsovaya sq.)

Track: International Insolvency Forum

Description

Organizer of the discussion session – Federal Tax Service of the Russian Federation

 

The institution of subsidiary liability, as an indemnification vehicle that is supposed to work in favour of the creditors in an insolvency process, has not been applied with sufficient effectiveness. Indeed, statistics indicate that creditors seen no debt repayment in 70% of completed insolvency proceedings. In essence, the enforcement of subsidiary liability is reduced to obtaining a favourable, albeit often unenforceable when it comes to the actual indemnification, court determination to hold the debtor’s formal chief officer liable, followed by the unredeemed debt being written off the books.

Why is this institution not applied effectively? How do you identify the real party liable, the beneficiary of the business earnings and/or the beneficiary of a divestiture of assets or undertaking, and thus take the insolvency proceedings to a place where the debt can actually be recovered? How do you prove malfeasance by the proprietors and/or executives of a business entity?

How does subsidiary liability work in foreign jurisdictions? This session will focus on the latest changes in the enforcement of subsidiary liability and the role of international collaboration in the identification and exposure of the true beneficiaries with a view to holding them liable.

Moderator

Sergey Arakelov

Deputy Head, Federal Tax Service of the Russian Federation

Biography

Born on February 3, 1975.

Education, academic degree:

In 1996 graduated from Moscow State Law Academy. Ph.D. in Economics.

Professional experience:

  • Works in tax authorities since July 1996. Acted as a deputy of various officers, from 1st category legal counsel of the Moscow State Tax Inspectorate to Head of Inter-District Inspectorate of the Moscow Federal Tax Service No 47.
  • In September 2010 was appointed Head of Federal Tax Service's Legal Office.
  • In December 27, 2010 was appointed Deputy Head of Federal Tax Service by the executive order of the Russian Federation Ministry of Finance dd. 27.12.2010 No 1557.
  • Class 2 Active State Advisor of the Russian Federation by the Decree of the RF President dd. 07.10.20132 No 770 "On the Appointment of the Russian Federation State Civil Service Class Ranks to Federal Civil Servants and Justiciary Class Ranks".

Coordinates and controls the following activities:

  • Legal Administration;
  • Administration for Pre-Trial Fiscal Disputes Settlement;
  • Administration for Bankruptcy procedure.

Coordinates legal activities across tax authorities, ensures coordinated position of tax authorities in courts, ensures the conformity of regulatory acts issued by Federal Tax Service to the RF legislation.

Coordinates the examination of fiscal disputes between Russian tax authorities and taxpayers.

Coordinates legal representation of the interests of the Russian Federation as a creditor in insolvency cases and bankruptcy procedures.

Speakers

Konstantin Chekmyshev

Head of bankruptcy Directorate, Federal Tax Service of the Russian Federation

Michael Gerber

Professor of Law, Brooklyn Law School

Denis Kapkaev

Judge Организация: Supreme Court of Russia

Yuliya Medvedeva

Director of Expert and Analytics department, Deposit Insurance Agency

Rustem Miftakhutdinov

Associate Professor for the Individual and Corporate Law, Kutafin Moscow State Law University (MSAL); Judge (retired), The Supreme Arbitration Court of the Russian Federation

Samuel Ramp

Partner, Fischer Ramp Partner AG

Biography

An attorney and a certified tax expert, partner of Fischer Ramp Partner AG; focuses on tax planning (private clients as well as on financing and restructuring of national and international corporations), tax practice include tax litigation before authorities and courts; worked for the Zurich tax authorities; member of International Fiscal Organization (IFA); teaches at SIST, the Swiss Institute for Tax Studies (Schweizerisches Institut für Steuerlehre) and Treuhand Suisse; regular speaker at national and international tax conferences on the issue of international taxation and tax disputes; author of vast publications.

David Russell QC

Barrister, Lincoln’s Inn

Biography

David Russell is a barrister and a Queen's Counsel. He was the president of the Taxation Institute of Australia from 1993 to 1995, and of the Asia Oceania Tax Consultants’ Association from 1996 to 2000. He has lectured at the University of Sydney for the Master of Taxation course and the University of Queensland for the Master of Laws course. For many years, he has been the chairman of STEP Australia; he currently is a member of the STEP World Wide Council and various STEP Committees, including the Tax Committee. Mr Russell is a Academician of International Academy of Estate and Trust Law, an honorary member of the Taxation Institute of Hong Kong, a member of the Middle East and North Africa Branch Committee of the Chartered Institute of Taxation (UK), a member of the board of the International Tax Specialist Group. In 2012 he was appointed a member of the Order of Australia for “service ... to taxation law and legal education.” In 2014 he became the Tax Institute’s Chartered Tax Adviser of the Year. Mr Russell is an author of numerous publications on taxes and international taxation.

Oleg Zaytsev

Consultant, Research Center of Private Law named after Sergey Alekseev under the President of the Russian Federation


* The Programme may be subject to change