CBR reports on results of inspection of financial standing of CB Admiralteisky LLC held by provisional administration
OREANDA-NEWS. March 30, 2016. The provisional administration of CB Admiralteisky LLC appointed by Bank of Russia Order No. OD-2406, dated 11 September 2015, due to the revocation of its banking licence, encountered an obstruction of its activity starting the first day of performing its functions.
The management of CB Admiralteisky LLC failed to submit to the provisional administration loan agreements for loans recorded on the bank’s balance sheet in the amount of about 1.1 billion rubles, which can point to an attempt to conceal episodes of asset diversion from the bank.
The provisional administration has revealed transactions which resulted in a deterioration of the bank’s financial standing, lost of liquid funds in the amount exceeding 510 million rubles, and transactions in the amount of about 1.6 billion rubles aimed at diverting the bank’s assets, among other things, by transferring 1.5 billion rubles as payment for non-residential premises which have not subsequently been registered as the bank’s property.
According to the estimate by the provisional administration, the assets of CB Admiralteisky LLC do not exceed 6.6 billion rubles, whereas the bank’s liabilities to its creditors amount to 8.5 billion rubles.
On 1 February 2016, the Court of Arbitration of the city of Moscow ruled to recognise CB Admiralteisky LLC insolvent (bankrupt) and initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.
The Bank of Russia submitted the information on financial transactions bearing the evidence of the criminal offence conducted by the former management and owners of CB Admiralteisky LLC 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.