SHS Web Conf.
Volume 128, 2021XVII International Scientific and Practical Conference on Sustainable Development of Regions (IFSDR 2021)
|Number of page(s)||7|
|Section||Sustainable Development Jurisprudence|
|Published online||15 December 2021|
Subordination of non-arm’s length creditors’ claims: at a crossroads
1 Рeoples’ Friendship University of Russia (RUDN University), Moscow, Russia
2 Copenhagen Institute for Futures Studies: Copenhagen, Copenhagen, Denmark
* Corresponding author: email@example.com
In several European countries and the US, corporate and insolvency law principles allow the courts to subordinate the claims of non-arm’s length creditors (i.e., affiliates, shareholders, controlling persons, officers, etc.) of an insolvent entity. However, there is no universal approach across the above jurisdictions. Instead, the scholars observe a whole range of subordination regimes. Each of them derives from a unique and unsteady balance between the interests and values protected by law. This paper examines the Russian subordination rules and their evolution and discusses the values and incentives behind the subordination of non-arm’s length creditors claims in search for an optimal approach.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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