Jubilee Ace/ Jenco/ GTR / 3Key – Lyra Newsletter No. 210

Dear Clients,

In cases such as Jubilee Group, one of the recurring questions concerns who ultimately bears responsibility whether it is solely the individuals involved in the disputed activities or also the legal entities through which those activities were carried out.

It is important to understand that criminal liability of natural persons and liability of legal entities represent two distinct, yet interconnected aspects of the proceedings.

Natural persons are held accountable for the actions they personally undertook, organized, or directed. Their responsibility is established through evidence of specific conduct, their role within the structure, and any benefit they may have obtained.

At the same time, legal entities may also bear liability if a criminal offense was committed in their name, on their behalf, or for their benefit. The fact that a company has been formally dissolved, removed from a register, or ceased operations does not automatically resolve the issue of responsibility. In certain circumstances, authorities examine continuity of operations, links to related entities, and potential transfers of assets or business activities to newly established companies.

It is particularly important to emphasize that the dissolution or restructuring of a legal entity does not affect the personal criminal liability of the individuals who participated in the underlying conduct.

In complex financial cases, a comprehensive assessment of both individual and corporate responsibility is often necessary in order to establish the full operational mechanism through which the injured parties were misled.

The objective of the proceedings is not merely the formal attribution of isolated liability, but a complete evaluation of the system and structure that enabled the alleged misconduct.

Any further developments relevant to your position will be communicated without delay.

Kind regards,
Attorney Zoran Miljaković