On termination of activity of provisional administration of credit consumer cooperative Semeiny Capital

Pursuant to Clause 1 of Article 183.5 and Clause 1 of Article 189.3 of Federal Law No. 127-FZ, dated 26 October 2002, ‘On the Insolvency (Bankruptcy)’ the Bank of Russia took a decision to appoint from 11 January 2016 the provisional administration of the credit consumer cooperative Semeiny Capital (address/location): 116, bldg. 1/A, Obukhovskaya Oborona Prospekt, Saint Petersburg 191012; TIN: 7811484500, PSRN 1117847049143; Bank of Russia Order No. OD-3853, dated 31 December 2015) for a 6-month term.

Olesya V. Romanchuk, receiver (mailing address: P. O. Box 560, 63 Sokolova Prospekt, Rostov-on-Don 344000), member of the non-profit partnership Siberian Guild of Turnaround Managers (10 Berezhkovskaya Embankment, office 200, Moscow 121059) has been appointed as a head of the provisional administration.

By Bank of Russia Order No. OD-2184, dated 8 July 2016, the term of activity of the provisional administration was extended by two months.

Based on the report on the financial standing of the credit consumer cooperative Semeiny Capital submitted by its provisional administration the Bank of Russia took a decision on 19.05.2016 to let the provisional administration appeal to the court of arbitration to recognise the credit cooperative insolvent (bankrupt) due to the impossibility to recover its solvency.

By its decision with regard to case No. А56-35184/2016 the Court of Arbitration of the city of Saint Petersburg and the Leningrad Region has recognised the credit cooperative insolvent (bankrupt) with a receivership procedure launched.¹

Daniil V. Fedichev, member of the Non-profit Partnership ‘Interregional self-regulatory organisation of professional receivers ‘Alliance of Receivers’ (address: 79/A, Room 10-N, Bolshoi Prospekt P. S., Saint Petersburg 197022) has been appointed as a receiver.

In compliance with Federal Law No. 127-FZ, dated 26 October 2002, ‘On the Insolvency (Bankruptcy)’ creditors shall have the right to raise claims on the financial organisation within two months from the day the information on recognising the financial organisation bankrupt is published.

Creditors’ claims go the court of arbitration, to the financial organisation and the receiver with documents confirming the validity of claims attached. The receiver shall add such claims to the register of creditors’ claims.

¹ The receivership is a procedure used in a bankruptcy case in relation to a debtor recognised as a bankrupt to adequately consider creditors’ claims.

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