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Court confirms Far Eastern bank's bankruptcy

15:14 07/09/2011

MOSCOW, September 7 - RAPSI, Dmitry Shchitov. A commercial court of appeals in Khabarovsk in the Far East has confirmed the validity of a lower-court's decision to deem Vostokkreditbank bankrupt, a bank representative told the Russian Legal Information Agency (RAPSI).

The Central Bank of Russia withdrew Vostokkreditbank's license in November for not observing federal banking laws.

Vostokkreditbank has 2,760 clients in the Amur Region which are entitled to 372 million rubles ($13.3 million) from the bank. The bank only provided corporate financing. Its credit portfolio was 2.1 billion rubles ($75 million) on November 1.

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Court confirms Far Eastern bank's bankruptcy

15:14 07/09/2011 A commercial court of appeals in Khabarovsk in the Far East has confirmed the validity of a lower-court's decision to deem Vostokkreditbank bankrupt.
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