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Court extends bankruptcy proceedings in bank for another six months

11:25 24/10/2011

MOSCOW, October 24 - RAPSI, Dmitry Shcitov. A commercial court has extended a Moscow bank's bankruptcy procedure for another six months, the court told the Russian Legal Information Agency (RAPSI) on Monday.

According to the state-run Deposit Insurance Agency (DIA) appointed Stolypin Bank's bankruptcy administrator, it needs six month more to deal with the creditors as well as to collect accounts receivable under loans and dispose of the bank's assets.

The bankruptcy administrator earlier reported that the Moscow Commercial Court satisfied 14 DIA lawsuits to recover 538.28 million rubles ($17.2 million) from the banks debtors. The bailiffs' service has also initiated three execution proceedings to the total amount of 83.46 million rubles ($2.6 million).

The Moscow Commercial Court declared Stolypin Bank bankrupt on September 8, 2009.

The Central bank revoked the bank's license in May 2009.

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Court extends bankruptcy proceedings in bank for another six months

11:25 24/10/2011 A commercial court has extended a Moscow bank's bankruptcy procedure for another six monthsю
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