Vicarious liability of a foreign controlling person in insolvency proceeding in Russia

The research is devoted to the topic of vicarious liability of persons controlling a debtor in cross-border bankruptcy. The author believes that in the next few years the Russian legal system will inevitably face the need to apply this institution to foreign persons who controlled (or control) Russian debtors, and its effectiveness will directly depend on the approaches that the legal order will choose to regulate both cross-border bankruptcies in general and vicarious liability in particular. The key conclusion of the research is that the main problem of bringing a foreign controlling debtor to vicarious liability is the further actual enforceability of the relevant act of the Russian court in conditions when the assets and property of such a person are located in other jurisdictions. In the author's opinion, an effective way to resolve this problem is to further improve and develop a unified and consistent approach of the domestic legal order to cross-border insolvency.