OREANDA-NEWS. In compliance with Clause 2 of Article 18926, Clause 3 of Article 18927 and Articles 18931, 18932 and 18935 of the Federal Law ‘On the Insolvency (Bankruptcy)’ and following revocation of the banking licence of the Moscow-based credit institution Commercial Bank INTERCOMMERTZ (Ltd.) or CB INTERCOMMERTZ (LLC) (Bank of Russia Registration No. 1657, date of registration is 10 December 1991), the Bank of Russia took the following decision (Order No. OD-401, dated 8 February 2016):

to rule that the provisional administration of the credit institution Commercial Bank INTERCOMMERTZ (Ltd.) appointed by Bank of Russia Order No. OD-268, dated 29 January 2016, ‘On the Appointment of the Provisional Administration to Manage the Moscow-based Credit Institution Commercial Bank INTERCOMMERTZ (Ltd.) or CB INTERCOMMERTZ (LLC)’, shall perform the functions envisaged by the Federal Law ‘On Insolvency (Bankruptcy)’ and exercise other powers determined by the Federal Law ‘On Insolvency (Bankruptcy)’, the Federal Law ‘On Banks and Banking Activities’ and the related Bank of Russia regulations from 8 February 2016;

to rule that the provisional administration of the credit institution Commercial Bank INTERCOMMERTZ (Ltd.) shall be effective 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.