ISSUES OF PROSPECTS OF dERIVATIVE SUITES AGAINST OFFICIALS OF CORPORATE GOVERNANCE

Problem setting. The article is devoted to the prospects of derivative suits against officials of corporate governance. The current state of legislation for the introduction of this type of liability is examined. Analysis of recent researches and publications. Some aspects were highlighted in the works of M. Zhornokuya, I. Grishina, G. A. Maidanyk, V. V. Shcherbakov but this institution has not been critically analyzed in view of the realities of the corporate sector in Ukraine as well as regarding such European and American experience. Target of research. Comprehensive critical study of the prospects of introducing of derivative suits against officials of corporate governance. Article’s main body. Special attention is paid to the study of European and American experience, which shows the strengths and weaknesses of the application of this institution. Regarding such an experience Ukrainian corporate legislation is examined. It is figured out that some basic norms of such responsibility have already a place in Ukrainian legislation. Nevertheless, lack of duties of officials of corporate governance as well as inner economies problems don’t allow take derivative suits into force. The paper provides the following economic conditions and legal mechanisms which are basic to introduce of derivative suits against officials of corporate governance: 1) the level of corporate governance in the country should be at an appropriate level; 2) the level of consciousness of corporate shareholders as well as corporate governance officials must be at a high level; 3) the law shall obtain duties (or principles) of corporate governance officials; 4) those duties should be specified; 5) responsibility should not be general in nature, and occur as a result of a specific breach of duty. Conclusions and prospects for the development. It is concluded that the current state of Ukrainian corporate sector and the legislation does not allow entering into force this type of responsibility. It is proposed to consolidate the legislation norms of principles as well as specific duties of the officials as a prerequisite for derivative suits against officials of corporate governance. Prospects for further scientific research studies have responsibility in corporate relations.