Application of the Concept of De Facto Affiliation in Insolvency (Bankruptcy) Cases in Russia and the USA
( Pp. 103-109)
More about authors
Voronov Fedor Alexandrovich
postgraduate student of the Business and Corporate law Department of the
Kutafin Moscow State Law University (MSAL)
Moscow, Russia
Kutafin Moscow State Law University (MSAL)
Moscow, Russia
Abstract:
Abstract: The study examines the application of the concept of non-statutory insider in insolvency (bankruptcy) cases in the USA. The possibility of applying the criterion of «economic dependence» in establishing affiliation is considered. Using the method of comparative legal research the conclusion is made that it is impossible to apply the criteria of «economic dependence» in the domestic jurisdiction, instead the author of the study proposes the use of the «comparative» test, the essence of which is to compare the relations of factual affiliates by analogy with the relations that are directly provided by the current legislation as affiliation relations.
How to Cite:
Voronov F.A., (2023), APPLICATION OF THE CONCEPT OF DE FACTO AFFILIATION IN INSOLVENCY (BANKRUPTCY) CASES IN RUSSIA AND THE USA. Gaps in Russian Legislation, 3 => 103-109.
Reference list:
Alec P. Ostrow. Insider «Includes»? Include Me Out, 7 Am. BANKR. Inst. L. Rev. 601, 611 (1999).
James R.D. Arm’s length parties with non-arm’s length dealings?. URL: https://insolvencyinsider.ca/arms-length-parties-with-non-arms-length-dealings/ (дата обращения 20.04.2023).
Norberg Scott F., Non-Statutory Insiders Under the Bankruptcy Code after U.S. Bank National Association V. The Village at Lakeridge, LLC (June 2, 2021). 29 ABI Law Review 83 (2021)., Florida International University Legal Studies Research Paper No. 21-09.
Egorov A.V. Influence of affiliation on bankruptcy. Civilistics, 2021, no. 2. С.67.
Efimov A.V. Qualification of affiliation of legal entities in relations based on economic dependence. Journal of Business and Corporate Law. 2018. № 3. С. 69-72.
Makovskaya A.A. Major Transactions and Related Party Transactions: Analysis and Commentary of the Laws «On Joint Stock Companies» and «On Limited Liability Companies». Moscow: Statute. 2020. С. 370.
James R.D. Arm’s length parties with non-arm’s length dealings?. URL: https://insolvencyinsider.ca/arms-length-parties-with-non-arms-length-dealings/ (дата обращения 20.04.2023).
Norberg Scott F., Non-Statutory Insiders Under the Bankruptcy Code after U.S. Bank National Association V. The Village at Lakeridge, LLC (June 2, 2021). 29 ABI Law Review 83 (2021)., Florida International University Legal Studies Research Paper No. 21-09.
Egorov A.V. Influence of affiliation on bankruptcy. Civilistics, 2021, no. 2. С.67.
Efimov A.V. Qualification of affiliation of legal entities in relations based on economic dependence. Journal of Business and Corporate Law. 2018. № 3. С. 69-72.
Makovskaya A.A. Major Transactions and Related Party Transactions: Analysis and Commentary of the Laws «On Joint Stock Companies» and «On Limited Liability Companies». Moscow: Statute. 2020. С. 370.
Keywords:
bankruptcy, insolvency, de facto affiliation, insider, economic dependency..
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