Information for Agrosoyuz customers
The provisional administration of Limited Liability Company Commercial Bank Agrosoyuz, appointed by Bank of Russia Order No. OD-2901, dated 7 November 2018, following licence revocation, in the course of its examination of the credit institution’s financial standing, has identified transactions suggesting efforts to siphon off assets, which consist in assignment to third parties of amounts outstanding of lending to individuals and companies to a total of over 7 billion rubles. These were conducted by the bank’s former executives and owners in the run-up to the licence revocation.
The provisional administration is currently working to prepare materials in the case to take to court with a view to ruling these transactions as illegal pursuant to Articles
The borrowers, following Clause 1 Article 327 of the Civil Code of the Russian Federation (further referred to as the Civil Code), considering the evident uncertainly as to who the obligee is may deposit cash funds with a notary for further repayment of their liabilities.
Clause 2 Article 327 of the Civil Code sets forth that lodging cash or securities in a notary’s deposit account is deemed as satisfaction of liabilities.
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