OREANDA-NEWS. The provisional administration of CB AkademRusBank LLC appointed by Bank of Russia Order No. OD-190, dated 29 January 2015, due to the revocation of its banking licence, encountered a considerable obstruction to its activity starting the first day of performing its functions.

The management of CB AkademRusBank LLC failed to submit title documents for loans totalling more than 1 billion rubles, which indicates an attempt to conceal documented evidence of the bank assets' diversion. Besides, the provisional administration established facts of loans totalling 590 million rubles issued by the bank while it experienced solvency problems. Those loans were used to repay other earlier issued loans, which may prove the concealment of operations aimed at diverting assets.

As a result of the inspection held, the provisional administration established that the value of the bank's property did not exceed 179.4 million rubles with the value of its liabilities reaching 767.7 million rubles. Therefore, on 20 March 2015, the Arbitration Court of Moscow made a ruling to recognise CB AkademRusBank LLC as insolvent (bankrupt) and initiate bankruptcy proceedings.

The state corporation Deposit Insurance Agency was approved as a receiver.

The Bank of Russia submitted the information on the financial operations of the former managers and owners of CB AkademRusBank LLC bearing the evidence of the criminal offence to the Prosecutor General's Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation for consideration and procedural decision making.