An audit of the consumer cooperative "Sosnovy Bor" revealed significant losses as a result of the cooperative´s economic activities in 1999. At the general meeting of members of the cooperative on March 23, 2000, the balance of the cooperative for 1999 was approved and it was decided not to cover the resulting losses by additional investments, but to reduce proportionally the share contributions of all members of the cooperative, equalizing the organization’s assets and liabilities.
One of the cooperative’s creditors, having learned of the decision, went to court with a claim for the liquidation of the cooperative. At the same time he demanded the early termination of the contract concluded with the cooperative, and the recovery of all damages. On May 5, 2000, the court granted the creditor’s claim. In connection with the insufficiency of the cooperative’s property to cover losses, the court placed subsidiary liability for the cooperative’s debts to one of its participants, the full partnership Farmers Korsakov and Petrov. The latter appealed the decision of the court in cassation, considering it illegal.
What decision will you take at the cassation instance?
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