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Russian Deposit Insurance Agency seeks $170 mln from Zapadny bank

15:30 31/08/2017

MOSCOW, August 31 (RAPSI) – The Deposit Insurance Agency (DIA) has filed a claim against former managers of the Zapadny bank seeking to recover 10 billion rubles (about $170 million), the agency’s statement reads on Thursday.

According to the agency, the bank suffered losses after it had given credits to technical legal entities and a person unable to return the money. The agency also noted that the former managers alienated some assets of the bank on gratuitous basis.

On April 21 of 2014, the license of the Zapadny bank was revoked by the Central Bank of Russia. On October 9 of 2014, the Moscow Commercial Court declared the bank bankrupt.

The DIA stated that an audit of the bank’s property revealed the shortage of 848 million rubles (about $14.5 million). Overall, bank owes 24.6 million rubles (about $420.5 million) to creditors.

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Russian Deposit Insurance Agency seeks $170 mln from Zapadny bank

15:30 31/08/2017 The Deposit Insurance Agency (DIA) has filed a claim against former managers of the Zapadny bank seeking to recover 10 billion rubles (about $170 million).
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