OREANDA-NEWS. Due to the delays in satisfying creditors’ claims on monetary obligations for more than seven days from the date of their satisfaction and guided by Article 18938 of the Federal Law ‘On Insolvency (Bankruptcy)’, starting from 22 December 2015 the Bank of Russia has imposed a three-month moratorium on satisfaction of claims of creditors of the Foreign Economic Industrial Bank, limited liability company (Vneshprombank LLC) (Registration No. 3261).

In accordance with the Federal Law ‘On Insurance of Household Deposits in Russian Banks’, the imposition of a moratorium on satisfaction of bank creditors’ claims is an insured event. Payments to Vneshprombank depositors, including individual entrepreneurs, will start no later than 14 days since the date the moratorium has been imposed. The state corporation Deposit Insurance Agency will determine the procedure for paying indemnities.