Turbina I.A. Violation of Interest of the Economic Entity as a Condition of Director’s Civil Liability for Damages

Inga A. Turbina
Consultant, Department of Economics and Law, Committee of Legal Suppor
Volgograd Administration
Prosp. Lenina, 10, 400066 Volgograd, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it.

Introduction. The article considers the problem of the lack of a definition of the key concepts of corporate law – “interest of the economic society” in Russian legislation, which causes complexity and ambiguity of its application and interpretation in legal practice and doctrine. Disclosure of the notion of “interest of the economic society” in the study of the problems of civil liability of the company director is necessary, because it is in the public interest of the Director established to carry out the powers assigned to it. Methods. The author used scientific methods of research, such as analysis, synthesis, comparison, and private research methods: formallegal, technical and legal. Results. The author analyzes the correlation between the category “interest” and used in the Civil Code of the category of “purpose” of a commercial organization. Conclusions formulated by the author’s definition of “interest of the economic society”, which should be understood systematically profit and the satisfaction of the interests of shareholders / participants, taking into account the interests of employees, contractors and other stakeholders in the organization of persons, the impact on society and the environment, the maintenance of the business reputation at a high level, ensuring equitable treatment of all participants and other requirements stipulated by the founding documents or the strategy and business plan.

Key words: interest of the economic society, economic societies, purpose of a commercial organization, civil liability, duties of the director.
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