The Bank «Ugra» was declared bankrupt

© Photo : PJSC BANK «YUGRA»Yugra Branch of the Bank. Archive photoThe Bank «Ugra» was declared bankrupt© Photo : PJSC BANK «UGRA»

The Moscow arbitration court declared bankrupt Bank «Ugra», the entrance to the revocation of the license of the top 30 credit organizations, the correspondent of RIA Novosti news from the courtroom.

In respect of the Bank opened bankruptcy proceedings for one year. The Agency on insurance of contributions will serve the bankruptcy Trustee.

Earlier, the Central Bank noted that the difference between the liabilities and assets of «Ugra» is greater than 143 billion rubles. Property of the Bank is about 56.3 billion rubles, and outstanding obligations are estimated at 199,3 billion.

Assets of «Ugra» at the time of filing of the bankruptcy petition reached the level of the 196.7 billion rubles, liabilities in 198,3 billion. According to lawyers, a further decline in the value of assets was due to additional reserves for bad debt and revaluation of securities belonging to financial institutions.

The representative of the owners of the Bank, in turn, said that at the time of revocation of the license in August of last year, the value of the property of «Ugra» was more than 232,5 billion and liabilities of about 196,5 billion. He appealed to the court to request a credit file 105 of borrowers, the obligations which have deportirovali reserves. In addition, the representative of the Bank petitioned for appointment of judicial examination to assess the property of «Ugra». However, the court dismissed both requests.

The representative of the Bank stated that the arguments of the owners of «Ugra» has already been rejected by the court in the other two processes in which the ex-the Bank’s management tried to challenge the actions of the regulator. The owners of «Ugra» demanded to recognize the illegal orders of the Bank of Russia on the appointment of the interim administration and the moratorium on payments to creditors. They also tried to challenge the order of the Central Bank about revocation of license.

Insured event «Ugra» became the largest during the clearing of the banking system in Russia. The Agency on insurance of contributions estimated total payout of compensation to depositors in 169,2 billion.