Mykola Kovalchuk, Senior Partner of L.I. Group, Attorney-at-Law, and Insolvency Practitioner, moderated the third session, “Liability of Participants”, at the XI Bankruptcy and Restructuring Forum, dedicated to current issues of insolvency proceedings, judicial practice, and creditor protection.
The session took place from 3:30 p.m. to 5:00 p.m. and focused on the liability of participants in bankruptcy proceedings, judicial oversight of insolvency practitioners, and criminal law aspects of insolvency cases.
The discussion brought together representatives of the judiciary, the Ministry of Justice, the banking sector, and the legal community, including:
- Serhii Donkov — Director of the Bankruptcy Department of the Ministry of Justice of Ukraine;
- Serhii Stanik — Judge of the Northern Commercial Court of Appeal;
- Serhii Stasiuk — Judge of the Commercial Court of Kyiv;
- Ilona Mylostyva — Senior Associate at EQUITY;
- Arsen Miliutin — Deputy Chairman of the Management Board of JSC Oschadbank;
- Oksana Rusetska — Chair of the Association of Private Enforcement Officers of Ukraine, Private Enforcement Officer, PhD.
The session addressed issues related to challenging the actions of insolvency practitioners and the limits of judicial and administrative oversight, the application of the good faith principle in personal insolvency proceedings, subsidiary and joint liability of directors and beneficial owners, as well as criminal liability for failure to comply with court decisions under Articles 382 and 388 of the Criminal Code of Ukraine.
Particular attention was devoted to the issue of the criminalization of bankruptcy and the distinction between legitimate business risk and criminal conduct, one of the most debated topics in contemporary judicial practice.
Mykola Kovalchuk’s role as moderator of the session highlights L.I. Group’s active involvement in professional discussions concerning the development of the insolvency framework and the formation of consistent legal practice in Ukraine.