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Court extends investment bank's bankruptcy procedure

12:34 27/09/2011

MOSCOW, September 27 - RAPSI, Dmitry Shchitov. The Court extended until February 2, 2012, the bankruptcy procedure in Interregional Investment Bank, the court's spokesperson told the Russian Legal Information Agency (RAPSI) on Tuesday.

Interregional Investment Bank was established in 1994.

Deposit Insurance Agency,which acts as the bank's bankruptcy administrator, said the debtor's assets must be sold since the bank did not settle accounts with bankruptcy creditors and did not pay the accounts receivable.

The agency said that it submitted to courts 143 suits on recovering from the bank's debtors $300 million. The courts already satisfied 113 suits worth $281.71 million. Some 118 bankruptcy proceedings worth $181.50million have been initiated.

The Moscow Commercial Court found the Interregional Investment Bank bankrupt on February 2, 2010.

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Court extends investment bank's bankruptcy procedure

12:34 27/09/2011 The Court extended until February 2, 2012, the bankruptcy procedure in Interregional Investment Bank.
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