On appointment of provisional administration

In compliance with Clause 2 of Article 17 of the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ and due to the revocation of the banking licence from the Vladikavkaz-based credit institution Commercial Bank Art-Bank, limited liability company, or CB Art-Bank LLC (Bank of Russia Registration No. 2779, date of registration — 6 April 1994) (Order No. OD-2123 of 18 August 2014) the Bank of Russia took a decision (Order No. OD-2124 of 18 August 2014) to appoint from 18 August 2014 a provisional administration to manage the credit institution Commercial Bank Art-Bank, limited liability company, for a term in accordance with the Federal Law ‘On the Insolvency (Bankruptcy) of Credit Institutions’ until the arbitration court adjudication on the recognition of bankruptcy and initiation of bankruptcy proceedings (appointment of a receiver) or until the arbitration court adjudication on the appointment of a liquidator becomes valid.

Veronika T. Morgoeva, chief economist of the general analysis sector of the banking supervision section of the National Bank of the Republic of North Ossetia-Alania, has been appointed as the head of the provisional administration of the credit institution Commercial Bank Art-Bank, limited liability company.

The provisional administration of the credit institution Commercial Bank Art-Bank, limited liability company, also includes: A.A. Andieva, A.D. Sakkaev, I.T. Ramonova, T.A. Khaimanonov, U.V. Tolasova, M.B. Khastsaev, T.R. Boradzov, V.M. Tarasov, D.M. Bulgakov, A.V. Tereshin, A.N. Davidenko, I.A. Allyamov.

The reference to the Press Service is mandatory if you intend to use this material.

18.08.2014 00.00.00