Supreme Court Weighs Subsidiary Jurisdiction, Liability

, Corporate Counsel

   | 1 Comments

A case argued before the U.S. Supreme Court this week could have important consequences for corporations with subsidiaries abroad, allowing significant expansion or reduction of the jurisdictions where multinationals can be sued.

This article has been archived, and is no longer available on this website.

View this content exclusively through LexisNexis® Here

Not a LexisNexis® Subscriber?

Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via lexis.com® and Nexis®. This includes content from The National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

What's being said

  • Ethan S. Burger

    Greetings:

    I believe that most Civil Law countries have secondary liability for parent companies. This occurs most commonly in instances where thinly capitalized "special purpose" entities were established in foreign jurisdictions.

    My recollection of the Russian Civil Code provides something to the effect that in the event the daughter company has insufficient assets to satisfy its creditor(s), the parent company has secondary liability,

    If a recall correctly, the parent company need not have a 100% ownership of its subsidiary, only practical control.

    The Russian Civil Code is largely based on the Dutch Civil Code,

    Regards.

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article# 1202623861789

Thank you!

This article's comments will be reviewed.