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Supreme Commercial Court refuses to reconsider bank's bankruptcy ruling

15:00 28/09/2011

MOSCOW, September 28 - RAPSI, Dmitry Shchitov. The Supreme Commercial Court has refused to reconsider the court ruling declaring SakhaDiamondBank bankrupt, the court spokesperson told the Russian Legal Information Agency.

Established in 1995, SakhaDiamondBank is a commercial bank covered by the deposits insurance system. It has branches in St. Petersburg, the Republic of Sakha and the Belgorod Region. Its own capital was reported as 30 million rubles ($931,000) before its license was revoked.

The request to review the judgments recognizing the bank as bankrupt was filed by its founders.

The Moscow Commercial Court declared SakhaDiamondBank bankrupt at the Central Bank's request on March 9. The bank appealed the judgment unsuccessfully. The bank's founders then filed a cassation appeal. However, the Moscow District Federal Commercial Court approved the lower-courts' decisions on July 27.

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Supreme Commercial Court refuses to reconsider bank's bankruptcy ruling

15:00 28/09/2011 The Supreme Commercial Court has refused to reconsider the court ruling declaring SakhaDiamondBank bankrupt.
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