On activity of OJSC ICB Zamoskvoretsky

The provisional administration of OJSC ICB Zamoskvoretsky appointed by Bank of Russia Order No. OD-1457, dated 23 June 2014, due to the revocation of the banking licence from the bank, encountered an obstruction of its activity starting the first day of performing its functions.

The management of OJSC ICB Zamoskvoretsky failed to submit loan agreements and documents of title for a premise and a land plot registered on the bank’s balance with the total value of 828.4 billion rubles that can be indicative of an attempt to conceal an asset withdrawal from the bank. Besides, the provisional administration established that during the period of its actual insolvency, the bank carried out transactions in the total amount of 557.1 billion rubles to unlawfully meet the claims of individual creditors (including the bank’s shareholders) at the expense of the bank’s property to the deliberate prejudice of other creditors.

The examination carried out by the provisional administration has established that the value of the bank’s assets does not exceed 1.713 billion rubles, while its liabilities amount to 2.624 billion rubles. Under these circumstances, on 13 August 2014, the Arbitration court of the city of Moscow took a decision to recognise OJSC ICB Zamoskvoretsky insolvent (bankrupt) and to initiate bankruptcy proceedings. The state corporation Deposit Insurance Agency has been appointed as a receiver.

The Bank of Russia has submitted the information on the financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of OJSC ICB Zamoskvoretsky to the Prosecutor General’s Office of the Russian Federation and to the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision making.

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14.10.2014 00.00.00