OREANDA-NEWS. The provisional administration of JSCB Akcia JSC appointed by Bank of Russia Order No. OD-729, dated 3 March 2016, following revocation of the banking licence revealed in the course of examination of the credit institution’s financial standing operations carried out by the bank’s former management which bear the evidence of moving out assets worth at least 170 million rubles mainly through extending known unrecoverable loans to companies not involved in any real business operations.

According to the estimates of the provisional administration, the value of assets of JSCB Akcia JSC does not exceed 352 million rubles, while its liabilities to creditors amount to 464 million rubles.

On 18 May 2016, the Court of Arbitration of the Ivanovo Region took a decision to recognise JSCB Akcia JSC insolvent (bankrupt) and to initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted information on financial transactions bearing the evidence of criminal offences conducted by the former management and owners of JSCB Akcia JSC to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation for consideration and procedural decision making.