OREANDA-NEWS. The provisional administration to manage INTERTRUSTBANK (Limited Company ‘COMMERCIAL INTERREGIONAL TRUST BANK’, ‘further — the Bank) as appointed by Bank of Russia Order No. OD-270, dated 21 January 2016, following banking licence revocation, in the course of its financial assessment of this credit institution, revealed the former bank executives-performed transactions which are indicative of asset siphoning off through extending loans to organisations bearing the signs of shell companies as well as to those with dubious solvency, to a total of 1.8 billion rubles.

The provisional administration estimates the value of the Bank assets to be not more than 2.2 billion rubles, vers. 4.2 billion rubles of its liabilities to creditors.

On 31 March 2016, the Arbitration Court of the City of Moscow recognised the Bank as insolvent (bankrupt) and initiated bankruptcy proceedings. The State Corporation Deposit Insurance Agency was approved to act as its bankruptcy receiver.

The information on financial transactions indicative of criminal acts as carried out by the Bank’s former executives and owners was submitted by the Bank of Russia to the Office for Prosecutor General of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation, to be reviewed and to enable the appropriate procedural decisions to be made.