On May 28 and 29, 2026 in St. Petersburg the annual St. Petersburg Legal Summit was held.
The presentation delivered by Alexey Gorodissky, Attorney, Partner and Practice Leader, Corporate Law / M&A
Alexey Gorodissky participated in the session ‘Where are the limits of due care? A discussion of how courts interpret due care in different types of disputes’.
The reason for carrying out this session was the ambiguity of evolving case law with respect to application of such legal category as due care in a wide variety of dispute categories.
One of the most high-profile cases was, of course, that of Larisa Dolina, which reached the RF Supreme Court in 2025. The hearing of that case was broadcast live.
The case stirred up great public interest: the lower courts' decisions had a significant impact on civil commerce not only in real estate but in many other areas as well. The RF Supreme Court had to intervene and correct the lower courts’ errors.
In some way, this case gave rise to the idea of bringing together a pool of experts who practice in a variety of areas to discuss the range of problems concerning due care concept in the law enforcement practice.
Alexey Gorodissky examined the concept of due care as a behavioral standard from a theoretical and practical standpoint, noted the problem of the lack of a clear legal definition and the position of this concept in the system of general fundamental civil law concepts, considered the problem of due care as an essential element of the system-level principle of fair practices, gave a general description of the emerging judicial practice in various categories of disputes, identified similar approaches, noted the differences in the formation of criteria and the essential content of due care depending on the nature of the dispute and its participants.
The presentation delivered by Dmitry Yakushev, Attorney, Counsel of the Bankruptcy Practice
Dmitry Yakushev spoke in the session ‘Challenging Transactions: New Schemes Any Counterparty Can Fall Into’.
Dmitry focused on the most acute issues in bankruptcy law in Russia: the unlawful equation of operating at a loss and insolvency when challenging transactions. He pointed out that a common mistake made by courts and trustees in bankruptcy is to equate a decline in financial performance or occurrence of losses with a company's inability to pay its debts.
Dmitry told that the economics distinguishes six types of a company's financial situation, ranging from profitability to absolute insolvency, i.e., a state in which no structural changes can restore the business to normal operations. As a matter of actual practice, according to Dmitry, courts often mistake cash deficiency and temporary financial difficulties for insolvency, which bankruptcy trustees misrepresent as a systemic crisis and use when challenging transactions.
Dmitry set several examples of invalidation by courts of transactions of a viable business, referring only to its negative financial results and insignificant delays in payments to some of its creditors.
In other legal systems, said Dmitry, courts study debtor's economic model much deeper and proceed from the assumption that payment delays, debt restructuring, and deferments are normal phenomena in a market economy that do not indicate an inability to meet obligations.
The topic of the presentation delivered by Dmitry Yakushev was: ‘The Point of no Return: Problems of Distinguishing Between Insolvency and Operating at a Loss in Transactions Challenging Practice’.
In the session the speakers also discussed opposing new assets funneling schemes in course of bankruptcy proceedings, designed by unfair debtors: how they can be streamlined and what instruments can be used for the protection of creditors’ interests.
In addition, the audience was informed about how a bona fide company can avoid becoming involved in an illegal scheme and how bankruptcy compliance can help.
The St. Petersburg Legal Summit is a closely watched annual event organized for the professional community by Action Pravo group, a cloud reference and education system of legal solutions for large legal departments, LAW500, a club of lawyers interested in acquiring smart business acquaintances, effective development and exciting experience, and the Corporate Lawyer, a leading Russian journal for heads of law firms and legal departments of large companies.
The participants rate the Summit high for its program, topics and the utmost practical use. Over the entire 5-year period the sponsors, partners and speakers have been choosing formats that allow for having live discussions in the sessions.
This year, for the event 5 halls were used and it was attended by 800 participants, including about 200 speakers in more than 50 sessions.
Our AGP team has participated in the St. Petersburg Legal Summit three times now. We appreciate the creative and stylish approach to organizing the event itself, the room decor, the unique session topics, such as the session on the legal regulation of human biomaterial, the play-based session with a magician, the unique entertainment program (Action Pravo Street at Sevkabel Port), and, what is most important, the warm atmosphere among the participants.
The final program of the Summit is the synergy of Action Pravo editorial board, partners and speakers at the Summit – heads of legal departments of major Russian companies, partners and practice leaders of leading legal consulting firms, judges, and chief editors of professional mass media.
