OREANDA-NEWS. August 24, 2015.  In compliance with Clause 2 of Article 18926 of the Federal Law ‘On Insolvency (Bankruptcy)’ and due to the revocation of the banking licence from the Makhachkala-based credit institution Settlement Non-bank Credit Institution MGB, limited liability company, or SNCI MGB LLC (Bank of Russia Registration No. 2866-K, date of registration — 1 June 1994) (Order No. OD-2235, dated 21 August 2015) the Bank of Russia took a decision (Order No. OD-2236, dated 21 August 2015) to appoint from 21 August 2015 a provisional administration to manage the credit institution Settlement Non-bank Credit Institution MGB, limited liability company, for a term in accordance with the Federal Law ‘On Insolvency (Bankruptcy)’ until the arbitration court adjudication on the recognition of bankruptcy and initiation of bankruptcy proceedings (appointment of a receiver) or until the arbitration court adjudication on the appointment of a liquidator becomes valid.

Abakar Khiramanov, chief economist of the banking supervision sector or the banking supervision section of the Division National Bank of the Republic of Daghestan, has been appointed as a head of the provisional administration of the credit institution Settlement Non-bank Credit Institution MGB, limited liability company.

The provisional administration of the credit institution Settlement Non-bank Credit Institution MGB, limited liability company, also includes: Z.D. Salavatov, Z.A. Mamaev, V.M. Tarasov, A.V. Tereshin, S.V. Belyakova, A.N. Davidenko.