Bank of Russia: On appointment of provisional administration

OREANDA-NEWS. In compliance with Clause 2 of Article 189²⁶ and Articles 189³¹, 189³², 189³⁵ of the Federal Law ‘On Insolvency (Bankruptcy)’ and due to the revocation of the banking licence from the Moscow-based credit institution Commercial bank Intercredit (joint-stock company) or CB Intercredit (JSC) (Bank of Russia Registration No. 3047, date of registration is 10 August 1994) (Order No. OD-2081, dated 29 June 2016), the Bank of Russia took a decision (Order No. OD-2082, dated 29 June 2016) to appoint from 29 June 2016 a provisional administration to manage the credit institution Commercial bank Intercredit (joint-stock company) for a term in accordance with the Federal Law ‘On Insolvency (Bankruptcy)’ 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.

Evgeni B. Vaisberg, chief economist of section No. 1 for relations with liquidated credit institutions of the Division for credit institutions licensing and liquidation of the Bank of Russia Main Branch for the Central Federal District has been appointed as a head of the provisional administration of the credit institution Commercial bank Intercredit (joint-stock company).