Conclusion of a Settlement Agreement within the Framework of the Derivative Claim Proceedings

The paper discusses the procedural features of concluding a settlement in the claim involving a  corporation-participant for compensation of losses caused by the bodies of a legal entity, and aimed at recognizing  as invalid a transaction made by a corporation and applying the consequences of its invalidity on appropriate  corporate grounds. The author critically evaluates the procedural order applied to the peaceful settlement of a  dispute in an indirect claim, provided for under paragraph 32 of the Resolution of the Plenum of the Supreme  Court of the Russian Federation of 23 June 2015 No. 25, in terms of the possibility of an independent conclusion  of a settlement by a corporation-participant. The author justifies the necessity of obtaining the consent of the  corporation for the legal entity participant to conclude a settlement. Particular attention is paid to considering the  specifics of concluding a settlement in the event that other members of the corporation join an indirect claim. The  paper demonstrates the procedural features of concluding an amicable settlement when considering an indirect  claim according to the rules of the class proceedings. To conclude the study, the author dwells on the issue of the  need for corporate approval of a settlement containing signs of a major transaction and (or) an interested party  transaction concluded within the framework of an indirect claim.  

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