OREANDA-NEWS. December 16, 2015. In compliance with Clause 2 of Article 18926 and Articles 18931, 18932 and 18935 of the Federal Law ‘On the Insolvency (Bankruptcy)’ and due to the revocation of the banking licence from the Moscow-based credit institution Commercial Bank for Development (limited liability company) or CB CBD BANK (LLC) (Bank of Russia Registration No. 3364, date of registration — 11 April 2001) (Order No. OD-3592) the Bank of Russia took a decision (Order No. OD-3593, dated 14 December 2015) to appoint from 14 December 2015 a provisional administration to manage the credit institution Commercial Bank for Development (limited liability company) for a term in accordance with the Federal Law ‘On the 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.

Alexander S. Bykov, 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 for Development (limited liability company).

The provisional administration of the credit institution Commercial Bank for Development (limited liability company) also includes I. I. Zimin, K. V. Arkhipov, M. N. Byvsheva, N. V. Mustafina, A. V. Sharapov, S. A. Esaulov, N. N. Subbotina, Ye. B. Ivanova, V. M. Tarasov, S. A. Sokolov, L. A. Borisenko, Yu. N. Aksyenov, A. N. Davidenko and P. I. Tsikh.