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Ruling on revocation of Yugra bank’s license not to be reconsidered

15:55 04/02/2019

MOSCOW, February 4 (RAPSI) – The Moscow Commercial Court has dismissed an application filed by Yugra bank seeking the review of a ruling on the validity of the Central Bank’s license revocation order upon newly discovered evidence, RAPSI has learnt in the court.

The bank’s managers have attempted to challenge the Moscow Commercial Court’s ruling of December 2017 and rulings of appeals courts. The Central Bank has revoked license of the bank as there have been two measures taken against it already, managers noted. They added that such revocation was unjustified because Yugra complied with the Central Bank’s demands.

Yugra license was revoked in July 2017. At the time it was among Top-30 largest Russian banks.

Earlier, the Central Bank imposed temporary administration represented by the DIA in the bank for six months and a three-month moratorium on creditor claims. The DIA was ordered to conduct Yugra’s status inquiry. The bank managers’ powers have been suspended for six months as well.

These measures were applied because of Yugra’s financial uncertainty and threat to interests of its creditors and depositors, according to the regulator.


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Ruling on revocation of Yugra bank’s license not to be reconsidered

15:55 04/02/2019 The Moscow Commercial Court has dismissed an application filed by Yugra bank seeking the review of a ruling on the validity of the Central Bank’s license revocation order upon newly discovered evidence.
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