OREANDA-NEWS. October 08, 2015.In compliance with Clause 2 of Article 18926 of the Federal Law ‘On the Insolvency (Bankruptcy)’ and due to the revocation of the banking licence from the Moscow-based credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company) or OJSC JSCB Lesbank (Registration No. 1598, date of registration — 25 October 1991) (Order No. OD-2660, dated 6 October 2015) the Bank of Russia took a decision (Order No. OD-2661, dated 6 October 2015) to appoint from 6 October 2015 a provisional administration to manage the credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company) for a term in accordance with the Federal Law ‘On the 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 appointments of a liquidator becomes valid.

Alexander V. Sychyev, chief economist of financial monitoring of the banking activity, financial markets and currency control section of Branch 4 Moscow, has been appointed as a head of the provisional administration of the credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company).

The provisional administration of the credit institution JOINT-STOCK COMMERCIAL BANK FOR DEVELOPMENT OF TIMBER INDUSTRY (open joint-stock company) also includes O.V. Boyev, O.S. Kudryavtseva, I.S. Neonilina, N.Yu. Shmyryev, Ye.B. Ivanova, O.Yu. Korablyeva, M.A. Yudanova, V.M. Tarasov, I.A. Slyusaryev, A.A. Karganov and A.N. Davidenko.