OREANDA-NEWS. June 20, 2014. This is the initiative of the National Bank, which developed the draft amendments to the current legislation and presenting them for public discussion. In addition, the NBM proposed to delete the liquidated banks from the State register with notification of the National Bank.

Now the exception of banks in liquidation process from the state register of Registration Chamber is carried out on the basis of the general rules on the exclusion of legal entities being liquidated voluntarily by the decision of founders or on the basis of the court decisions. NBM believes that these rules are not always applicable to banks under liquidation process, since the elimination of the banks has its specific features, in particular, extrajudicial procedure of the compulsory liquidation.

Thus, the liquidation process can be initiated by the National Bank, which appoints a liquidator authorized to supervise the Bank's assets, and NBM confirms the liquidation balance sheet and the report on the completion of liquidation process. The NBM suggests that the exclusion of banks in the process of compulsory liquidation from the State Register was carried out on the request for the exclusion, submitted by liquidator; the decision of NBM on the approval of the report on liquidation of the Bank; and liquidation balance.

Now 8 banks are in process of liquidation in Moldova, licenses of which were previously revoked by the National Bank. The period of liquidation for 3 banks (Bancosind, BIID MB and VIAS) was previously extended for 6 months up to June 17, 2014, and for 5 banks (Basarabia, Guinea, Intreprinzbanca, Oguzbank and Investprivatbank) – for one year - till December 17, 2014.

According to the National Bank, the liquidators will not fit within a specified time, because they face with various problems related to the assessment and sale of assets (including debts), judicial proceedings, execution of judgment, and insolvency proceedings of debtors.