A consequence of changing a director in a corporate legal entity is that the former CEO has an obligation to transfer financial and business documents to the new one. A failure to fulfill this duty entails a whole range of negative consequences for both the former leader and the replacement.
Andrew Bezhan, a Counsel and Attorney-at-Law in the Dispute Resolution Practice at Nordic Star, gives step-by-step instructions that will reduce the risks in this situation for companies planning to change their CEO.
To read the full article (in Russian)
Andrew Bezhan
Counsel, PhD in Law, Attorney-at-Law