Origin of Subsidiary Liability for the Debts of an Insolvent Legal Entity

Abstract

Modern jurisprudence, despite its entry into the digital age, remains true to its theoretical
foundations, which go back to the jurisprudence of Ancient Rome. The concepts of the person, thing
and claim developed by the Romans became key to the development of the continental tradition of
law. The author of the paper considers the process of formation and gradual development of the
model of subsidiary liability for the debts of an insolvent legal entity in Roman law. The ideas
about the corporation, the responsibility of its members and ensuring its debt in the historical
period from the birth of Roman law to its decline in the 7th century AD are explored.
The author concludes that, although Roman law did not recognize the corporation as an independent subject of law, in the classical period accessory and subsidiary obligationswere forming, as
well as procedures for holding other persons liable for the debts ofan insolvent person; they
can be called the forerunners of the institution of subsidiary liability and bankruptcy procee
dings.