On the results of financial position estimation of CB Kutozovsky LLC made by provisional administration

Provisional administration to manage the CB Kutuzovsky LLC, appointed by Bank of Russia Order No. OD-1156, dated 26 May 2014, due to the revocation of the banking licence launched a financial standing estimation and revealed the facts of withdrawing of more than 400 million rubles from the bank assets through issuing loans to companies with doubtful creditworthiness.

The estimation made by the provisional administration revealed that the property value of the bank does not exceed 28.2 million rubles against liabilities in the amount of 241.6 million rubles. In this context, the Arbitration Court of Moscow took a decision on 26 June 2014 to declare the CB Kutuzovsky LLC insolvent (bankrupt) and to open bankruptcy proceedings with the state corporation Deposit Insurance Agency approved as a receiver.

The information about financial operations with criminal offence indications carried out by the CB Kutuzovsky LLC former management and owners was forwarded by the Bank of Russia to the Office of the Prosecutor General of the Russian Federation and the Russian Interior Ministry for investigation and taking appropriate procedural decisions.

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03.09.2014 00.00.00