24.12.2015, 01:09
On results of conducted assessment of Commercial Bank BDB LLC
OREANDA-NEWS. The provisional administration of Commercial Bank BDB LLC (hereinafter referred to as CB BDB) as appointed under BoR Order dated 27 August 2015 No. OD-227, following revocation of the bank's licence, in the course of its financial assessment of the credit institution, has established transactions implemented by the bank's former management which suggest that liquid assets were being transferred out of the bank and individual creditors' claims were given priority to the detriment of other creditors.
In such a way, the bank conducted sale of its own offices to the total of RUB 49 million on knowingly disadvantageous conditions, such transactions having been recorded in the balance sheet retroactively through an unauthorised entry in the bank's transactions database.
Furthermore, at the time the bank was experiencing solvency problems and the Bank of Russia's instruction as regards limiting certain transactions to intrabank transfers was in force, the bank conducted transactions consisting in the assignment of claims under credit agreements to the total of RUB 366.7 million.
In addition, at the same time, notwithstanding that the bank was failing to execute some payment orders of its clients, a total of over RUB 160 million was provided as loans in cash money, in a meaningful blow to the bank's financial position.
According to the provisional administration, CB BDB assets total less than RUB 370 million, while its liabilities to creditors total as much as RUB 710 million.
According to the decision made by the Arbitration Court of Chuvash Republic dated 2 November 2015, CB BDB was adjudged insolvent (bankrupt), and bankruptcy proceedings were initiated against it. The State Corporation Deposit Insurance Agency was approved to act as insolvency administrator.
The information on financial transactions indicative of criminal acts as carried out by the former CB BDB managers and owners was submitted by the Bank of Russia to the Office for Prosecutor General of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation, to be reviewed and to enable procedural decisions to be made as appropriate.
In such a way, the bank conducted sale of its own offices to the total of RUB 49 million on knowingly disadvantageous conditions, such transactions having been recorded in the balance sheet retroactively through an unauthorised entry in the bank's transactions database.
Furthermore, at the time the bank was experiencing solvency problems and the Bank of Russia's instruction as regards limiting certain transactions to intrabank transfers was in force, the bank conducted transactions consisting in the assignment of claims under credit agreements to the total of RUB 366.7 million.
In addition, at the same time, notwithstanding that the bank was failing to execute some payment orders of its clients, a total of over RUB 160 million was provided as loans in cash money, in a meaningful blow to the bank's financial position.
According to the provisional administration, CB BDB assets total less than RUB 370 million, while its liabilities to creditors total as much as RUB 710 million.
According to the decision made by the Arbitration Court of Chuvash Republic dated 2 November 2015, CB BDB was adjudged insolvent (bankrupt), and bankruptcy proceedings were initiated against it. The State Corporation Deposit Insurance Agency was approved to act as insolvency administrator.
The information on financial transactions indicative of criminal acts as carried out by the former CB BDB managers and owners was submitted by the Bank of Russia to the Office for Prosecutor General of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation, to be reviewed and to enable procedural decisions to be made as appropriate.
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