OREANDA-NEWS. During the inspection of financial standing of the credit institution, the provisional administration of LLC CB Renaissance appointed by Bank of Russia due to the revocation of its banking licence, revealed the loss of evidence of ownership of the bank’s assets in the total amount of 3.7 billion rubles prior to the revocation of its banking licence.

Moreover, the inspection revealed the operations bearing the evidence of asset diversion through signing assignment agreements with a number of companies, including non-resident companies, in the total amount of 0.9 billion rubles.

According to the provisional administration estimate, the assets of LLC CB Renaissance do not exceed 5.5 billion rubles, whereas the bank’s liabilities to its creditors amount to 9.5 billion rubles.

On 24 February 2016, the Court of Arbitration of the city of Moscow ruled to recognise LLC CB Renaissance insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.