title: Legal entities directors’ liability for breach of good faith and/or unreasonable actions
metadata.name: dc.contributor.author
metadata.value: Brisov, Yuriy V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2020-07-09T19:23:05Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2020-07-09T19:23:05Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2020-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Brisov, Yuriy V. 2020. “Legal entities directors’ liability for breach of good faith and/or unreasonable actions”. Vestnik of Saint Petersburg University. Law 2: 293–305.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu14.2020.203
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/18613
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The article applies a comparative approach to the issue of directors’ liability for breach of
  good faith and unreasonable actions in Russian, UK, and US legislation and case law. During
  the analysis of Russian case law, the inconsistency in the judicial approach to the application
  of the law has been established and revealed in the article. The author brings up the issue of
  whether and to what extent it is possible to apply the objective and subjective tests developed
  by English Common law judges to solve the matters of a director’s liability for breach of good
  faith in Russia. However, the author draws the line between the above described Common
  law perspective and the maxims of the law of equity and offers to restrict the latter. The other
  common law doctrines such as estoppel, reasonable man standard, and respondent superior
  are also seen in comparison with Russian law. The broader application of the principle of good
  faith to corporate relations has been significantly limited in the UK and the USA, the courts
  tend to apply fiduciary duties under a minimal scope. The directors’ liability for breach of the
  duty of care and duty of loyalty has been in many cases up to shareholders to decide unless
  the gross negligence was proven to have caused harm to the company. Generally, however, the
  directors are not held liable for pure economic loss and unprofitable deals. Russian courts to
  the contrary in many cases hold directors liable for the loss even though directors’ fault, intent
  or gross negligence were not proven — the mere fact that the director could not demonstrate
  that the best possible course of actions was taken is often regarded as a breach of good faith
  and unreasonable actions.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Vestnik of St Petersburg University. Law;Volume 11; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: good faith
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: liability
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: corporation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: director
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: reasonableness
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: subjective test
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: objective test
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: mitigation
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: unconscionability
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Legal entities directors’ liability for breach of good faith and/or unreasonable actions
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 293-305.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/18613/1/293-305.pdf
resources.format: Adobe PDF
resources.size: 636,88 kB