OREANDA-NEWS. The provisional administration to manage Investbank BZL OJSC appointed by Bank of Russia Order No. OD-3456, dated 10 December 2014, due to the revocation of banking licence, held an inspection of the credit institution's financial standing and established that the value of assets of Investbank BZL OJSC does not exceed 467.2 million rubles with the value of liabilities to creditors in the amount of 492.6 million rubles.

The main reason of the inadequate value of the bank's assets to satisfy creditors' claims in full are the facts revealed by the provisional administration of assets withdrawal from the bank through acquiring securities at overvalued cost, investments in illiquid securities, and also lending to legal entities and private individuals affiliated with the bank which terminated servicing their debts after the licence revocation to the total amount of about 200 million rubles.

Given the situation, on 21 January 2015 the court of arbitration of the Orenburg Region made a decision to recognise Investbank BZL OJSC as insolvent (bankrupt) and to initiate bankruptcy proceedings. The state corporation Deposit Insurance Agency has been approved as a receiver.

The Bank of Russia sent information on the financial operations of criminal nature made by the former managers and owners of Investbank BZL OJSC to the Prosecutor General's Office of the Russian Federation and the Russian Ministry of the Interior for consideration and making the respective procedural decisions.