Compensation for Losses in the Process of Bank Resolution
Year: 2024
Type: article
Abstract: The article concerns the current judicial practice by applying the provisions on damages in the bank resolution by The Bank of Russia (par. 2 of clause 5 of The Bankruptcy Act, entered into force on the 8’June, 2018). This rule attracted the attention of researchers from the very beginning due to its specificity: the losses have been called untypical since their amount is determined in advance by law. Now the courts reject to apply these provisions with reference to the absence of retroactive force; in other situation the court has required to examine the circumstances of the case more thoroughly. Analysis of the norm shows that it doesn’t comply with the general provisions of the Russian Civil Law and is unlikely to be successfully applied at all. Herewith The Bank of Russia could use another legal means to achieve the goal of compensation for losses.
Author: O. P. Pleshanova
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4404425632