OREANDA-NEWS. The provisional administration of Bank Credit-Moscow PJSC appointed by Bank of Russia Order No. OD-2340, dated 22 July 2016, due to the revocation of its banking licence encountered serious obstruction of its activity starting from the first day of performing its functions. The former management and owners of Bank Credit-Moscow PJSC did not arrange the handover of original loan agreements valued at more than 640 million rubles to the provisional administration.

The provisional administration revealed operations of the former bank management and owners bearing evidence of siphoning off liquid assets by assignment of claim on loan agreements in the amount of over 1.8 billion rubles as well as by alienation of real estate owned by the bank in the course of the inspection of the financial standing of the credit institution.

Besides, the bank purchased securities of companies with dubious solvency in a total amount of over 4.3 billion rubles immediately before the revocation of its banking licence.

According to the provisional administration estimates, the value of Bank Credit-Moscow PJSC assets does not exceed 804 million rubles, while its liabilities to creditors amount to 6.4 billion rubles, including 5.2 billion rubles to households.

On 24 October 2016, the Court of Arbitration of the city of Moscow took a decision to recognise Bank Credit-Moscow PJSC insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia has submitted the information on financial operations bearing evidence of criminal offences of Bank Credit-Moscow PJSC former management and owners to the Prosecutor General’s Office of the Russian Federation, the Russian Ministry of Internal Affairs and the Investigative Committee of the Russian Federation for consideration and procedural decision making.