What is subsidiary liability?
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Answer provided 29.01.2024 20:29
Subsidiary liability is the additional liability of persons who, together with the debtor, are liable in cases provided for by law or contract. Before presenting a claim to a person who bears subsidiary responsibility, the creditor must present a claim to the principal debtor.
The legal nature of subsidiary liability is that the subsidiary liability of the additional debtor arises in cases of insufficient property of the main debtor, established by court order.
The answer is informational and does not replace a full legal consultation. For a detailed analysis of your situation, contact a lawyer directly.