On measures to prevent bankruptcy of My Bank. Ipoteka OJSC
In accordance with Federal Law No.
Under the above-mentioned Law, the Bank of Russia by its Order No. OD-142 of February 11, 2014, has vested the Agency with the functions of provisional administration for My Bank. Ipoteka OJSC. For the period of the provisional administration’s activities, the powers of shareholders of My Bank. Ipoteka OJSC related to their equity holding and management powers have been suspended.
The Plan of the Agency’s participation in preventing the bankruptcy of My Bank. Ipoteka OJSC provides for competitive selection of a bank that will purchase a part in the property and liabilities of My Bank. Ipoteka OJSC with the simultaneous transfer to the purchaser of all or part of the bank property and all its liabilities to creditors whose claims will be of first priority under the bankruptcy law.
The requirements placed on participants in the selection will include their pledge to start servicing the Bank depositors at the points of the Bank’s location (or in the same communities) no later than 14 days after signing an agreement on the transfer of Bank assets and liabilities, as well as the provision of services to the depositors by the purchaser on the same terms as established in their contracts with the Bank.
The criteria for selecting the purchaser will be the least amount of financial assistance in the form of a loan from the Agency.
The discharge of obligations to creditors other than depositors depends on the quality of the Bank’s assets which will not be part of those transferred to a financially stable bank along with the liabilities.
The decision on possible operations of My Bank. Ipoteka OJSC will be based on the Bank actual situation after the transfer of its assets and liabilities.
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11.02.2014 00.00.00