9.1. Estate Separation: Trust-Based Assets Protection

Thursday, May 20
15:30 - 16:30

Channel 2
BROADCAST
Live Stream

Track: 9. Private Law
Discussion session

In our legal context, the question of trust adoption has a well-considered motivation to protect assets defined by specific purposes of designation. It is no coincidence that the legislator does not abandon attempts to allow the existence of personal (or trust) funds. However, the task of protecting assets without forming a legal entity is much more complex. Special accounts (nominal accounts, escrow accounts) serve this task today, but assets other than money need additional legal frameworks, which can be subject to a similar regime. The formation of special accounts requires the achievement of certainty along the same parameters, by which the protection of other assets also seems quite justified and achievable. On the other hand, the separation of specific assets from the estate (separation) also means the establishment of the privilege of foreclosure in favour of a certain creditor, which entails impairment of the other creditors’ rights and therefore requires special justification. The purpose of the discussion is to establish the requisites of property separation.

Points for discussion: 

  • Applicability of property separation.
  • Personal funds: advantages and disadvantages.
  • Special account regime: privileges in the insolvency context.
  • Separation and pledge.
  • Separation and numerus clausus of property rights.
  • The problem of real subrogation and the notion of property contour.
  • Separated assets in turnover. Ways of protecting separated assets. Management of separated assets (powers, scope of liability, criteria of imputation). Public law aspects of separation.

Moderator

Lidia Mikheeva

Chairman of the Board, Private Law Research Centre under the President of the Russian Federation named after S.S. Alexeev

Speakers

Elena Andrianova

Senior Vice-President, Bank Lombard Odier (Zurich)

Dmitry Dozhdev

Head of the Department of Theory and History of Private Law, Private Law Research Centre under the President of the Russian Federation named after S.S. Alekseev

Pavel Krasheninnikov

Chairman, Committee on State Structure and Legislation, State Duma of the Federal Assembly of the Russian Federation, Russian Federation

Dmitry Stepanov

Head of the Department of Corporate Law, Private Law Research Centre under the President of the Russian Federation named after S.S. Alekseev


* The Programme may be subject to change