Reinterpretation of the legal construction of limited liability of members of commercial corporations

Occupation: Professor at the Department of Entrepreneurial and Corporate Law of the Kutafin Moscow State Law University (MSAL)
Affiliation: Kutafin Moscow State Law University (MSAL)
Address: Russian Federation, Moscow

Journal name

Gosudarstvo i pravo

Edition

Issue 9

Pages

63-72

Abstract

The current legal constructions are grounded in historical facts, the established legal order, as well as the needs of the State and society. In the present article, the author scrutinizes the historical shifts in the interpretation of the legal construction “limited liability” applied to members of commercial corporations in Russia. Specific regulations and historical facts that have had an impact on the understanding of the said construction in corporate relations are analyzed. Examples of implementation of this construction in foreign legislations are provided. Possible approaches to the interpretation of the construction “limited liability” of corporate members in the context of imposing legal liability on the parties controlling a corporation are reviewed.

Keywords

corporations, liability of corporation members, principle of limited liability, removal of corporate veil, liability of beneficiaries, controlling persons, subsidiary liability, artificial intelligence

Acknowledgment

The research was carried out with the financial support of the RFBR in the framework of scientific project No. 18-29-16079.

Received

30.04.2020

Publication date

29.09.2020

Number of characters

38155

Cite

GOST	Laptev V. Reinterpretation of the legal construction of «limited liability» of members of commercial corporations // Gosudarstvo i pravo – 2020. – Issue 9 C. 63-72 [Electronic resource]. URL: https://gospravo-journal.ru/S013207690009532-7-1 (circulation date: 23.04.2024). DOI: 10.31857/S013207690009532-7
MLA	Laptev, Vasily "Reinterpretation of the legal construction of «limited liability» of members of commercial corporations." Gosudarstvo i pravo 9 (2020):63-72. DOI: 10.31857/S013207690009532-7
APA	Laptev V. (2020). Reinterpretation of the legal construction of «limited liability» of members of commercial corporations. Gosudarstvo i pravo (9), pp.63-72 DOI: 10.31857/S013207690009532-7

100 rub.

When subscribing to an article or issue, the user can download PDF, evaluate the publication or contact the author. Need to register.

Number of purchasers: 1, views: 848

Readers community rating: votes 0

1. Andreev V.K. (2017) Personal liability of the participant of the economic society to third parties // Civil Law. 2017. No. 1. P. 8–11 (in Russ.).

2. Gabov A.V. Responsibility of the main joint-stock company for transactions concluded by the subsidiary company pursuant to instructions or with the consent of the main company // State and Law. 2016. No. 4. P. 81–94 (in Russ.).

3. Gutnikov O.V. The Grounds for Development of Corporate Liability Category in Civil Law // Law. Journal of the HSE. 2019. No. 4. P. 4–30 (in Russ.).

4. Karelina S.A., Frolov I.V. Institute of bankruptcy of citizens under the legislation of the Russian Federation (lecture in the framework of the master's program "Legal regulation of insolvency (bankruptcy)") // Business Law. The application of "Law and Business". 2017. No. 4. P. 2–20 (in Russ.).

5. Corporate Law: training course: in 2 vols. / E.G. Afanaseva, V.A. Vaypan, A.V. Gabov, etc; red. ed. I.S. Shitkina. Vol. 2. M., 2018 (in Russ.).

6. Laptev V.A. Corporate Law: legal organization of corporate systems. M., 2019 (in Russ.).

7. Laptev V.A. Business associations: holdings, financial and industrial groups, simple partnerships. M., 2008 (in Russ.).

8. Laptev V.V. Joint Stock Law. M., 1999 (in Russ.).

9. Lotfullin R.K. Subsidiary and other liability of persons controlling the debtor in bankruptcy. M., 2018 (in Russ.).

10. Mikhaylov N.I. Legal organization of financial and industrial groups in Russia: state and prospects. M., 2005 (in Russ.).

11. Molotnikov A.E. Responsibility in joint-stock companies. M., 2006 (in Russ.).

12. Insolvency (bankruptcy): training course: in 2 vols. / ed. by S.A. Karelina. Vol. 2. M., 2019 (in Russ.).

13. Russian Civil Law: Textbook: in 2 vols. Vol. II: Liability Law/ red. ed. E.A. Sukhanov. 2nd ed., stereotype. M., 2011 (in Russ.).

14. Tsitovich P.P. Outline of basic concepts of Trade Law. M., 2001 (in Russ.).1

15. Shershenevich G.F. Course of Trade Law. Vol. 1. 4th. ed. SPb., 1908. P. 183, 388, 389; vol. IV. 1912. P. 596 (in Russ.).

16. Shitkina I.S. Holdings: legal regulation and corporate governance. M., 2006 (in Russ.).

17. Shreter V.N. Soviet Economic Law. Commerce and Industry Law. M., L., 1928 (in Russ.).