OREANDA-NEWS. During the examination of financial standing of the credit institution, the provisional administration appointed by Bank of Russia Order No. OD-673, dated 26 February 2016, due to the revocation of the banking licence of LLC CB MILBANK revealed operations conducted by the LLC CB MILBANK’s former management bearing the evidence of moving out assets in the total amount of more than 860 million rubles through lending shell companies and purchasing promissory notes issued by companies bearing the evidence of non-operating institutions.

According to the estimate of the provisional administration, the assets of LLC CB MILBANK do not exceed 3.3 billion rubles, whereas the bank’s liabilities to its creditors amount to 3.9 billion rubles.

On 27 April 2016, the Court of Arbitration of the city of Moscow ruled to recognise LLC CB MILBANK insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of LLC CB MILBANK 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.