On appointment of provisional administration and imposing a moratorium on satisfying claims of PJSC IntechBank creditors
Due to unstable financial position of Public Joint-Stock Company IntechBank and threat to the interests of its creditors and depositors, the Bank of Russia has appointed the state corporation Deposit Insurance Agency as a provisional administrator for six months from 23 December 2016.
The rights of shareholders related to their stakes in the authorised capital as well as the authority of management of PJSC IntechBank have been suspended for a period of the provisional administration activity.
The priority task of the provisional administration is to inspect the bank’s financial position.
At the same time, guided by Article 18938 of the Federal Law ‘On Insolvency (Bankruptcy)’ the Bank of Russia has imposed a three-month moratorium on satisfying claims of creditors of PJSC IntechBank from 23 December 2016 due to the bank’s failure to satisfy creditors’ monetary claims within the timeframe exceeding seven days from the deadline.
In accordance with the Federal Law ‘On Insurance of Household Deposits with Russian Banks’, the imposition of a moratorium on satisfying bank creditors’ claims is an insured event.
The state corporation Deposit Insurance Agency will determine the procedure for paying indemnities to the bank’s depositors, including individual entrepreneurs.
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23.12.2016 00.00.00