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 credit institution Commercial Bank ABB, joint-stock company, or Bank ABB JSC (Bank of Russia Registration No. 2937, date of registration — 29 June 1994) (Order No. OD-2316, dated 21 July, 2016) the Bank of Russia took a decision (Order No. OD-2317, dated 21 July 2016) to appoint from 21 July 2016 a provisional administration to manage the credit institution Commercial Bank ABB, 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.

Natalia Stepanova, chief economist of liquidated credit institution section No. 2 of the Credit Institution Licensing and Liquidation Division 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 ABB, joint-stock company.

The provisional administration of the credit institution Commercial Bank ABB, joint-stock company, also includes: A.A. Deyev, N.N. Sinelnikova.