RIA NOVOSTI. The Moscow Arbitration Court declared Bank Troika bankrupt, a reporter of the Russian Agency of Legal and Court Information (RALCI) said from the court room, RIA Novosti wired. On doing this, the court upheld CBR’s application to declare the bank insolvent. The court initiated bankruptcy proceedings against Bank Troika for a term of 12 months and the Deposit Insurance Agency (DIA) was appointed to fulfill the functions of a receiver. The day when the receiver’s report will be reviewed has yet to be determined.
At the hearing on Thursday the CBR lawyer said that as of October 19, 2010 the bank’s assets were estimated at Rub 96.24 mln. The bank’s obligations total Rub 142.69 mln. A representative of Bank Troika’s temporary administration team backed CBR’s statement, noting the bank’s main assets are real estate facilities in the town of Zhukovsky and Moscow, and also credits.
The PR Department of the Central Bank of the Russian Federation reported on October 21, that the Bank of Russia revoked Bank Troika’s banking license. Among the reasons behind the license revoked CBR mentioned such violations as the failure to comply with the federal laws regulating banking activities and CBR’s statutory acts, a reduction in the capital adequacy ratio below 2% and a decline in equity capital below the minimal threshold set by CBR. As the regulator reported, Bank Troika’s own capital dropped below the statutory threshold after the bank provided its director, who is also its shareholder, with a large amount of money. Vedomosti business daily specified that at issue is the lender’s management board chairman Sergey Ilyin, who together with his spouse and the son holds a controlling interest.
