Elimination of the credit institution on the initiative of the
Sunday, May 9, 2010 5:36Elimination of the credit institution on the initiative of the Bank of Russia
The Bank of Russia within 15 days from the date of withdrawal from a credit institution licensed to conduct banking business must apply to the arbitration court for liquidation of a credit institution (hereinafter – the application of Bank of Russia on the forced liquidation of credit institutions), except if the day of the withdrawal of the licenses of credit organizations, there are signs of insolvency (bankruptcy), the Federal Law “On Insolvency (Bankruptcy) of Credit Organizations”.
If the day of revocation of a license to conduct banking transactions in credit organizations, there are signs of insolvency (bankruptcy), the Federal Law “On Insolvency (Bankruptcy) of Credit Organizations, or the presence of these features is set by Bank of Russia appointed interim administration to manage the credit institution after the date of withdrawal from credit institution of such license, the Bank of Russia appeals to the arbitral tribunal a statement of recognition of a credit institution insolvent (bankrupt) in the manner prescribed by the Federal Law “On Insolvency (Bankruptcy) of Credit Organizations”.
The arbitral tribunal considers the application of Bank of Russia on the forced liquidation of credit organizations in accordance with rules established by the Arbitration Procedural Code of Russia, and taking into account the peculiarities stipulated by this Federal Law. Statement by the Bank of Russia on the forced liquidation of a credit institution is considered by the arbitral tribunal in a period not exceeding one month from the date of filing of the declaration.
The arbitral tribunal shall decide on the liquidation of a credit institution and the appointment of a liquidator of a credit institution, unless it is proved the existence of signs of insolvency (bankruptcy) of credit organizations on the day of withdrawal of her license to conduct banking operations. In considering the application of Bank of Russia on the forced liquidation of the credit institution a preliminary hearing provided by the Arbitration Procedural Code of Russia, not carried out.
The arbitral tribunal shall transmit the decision to liquidate the credit institution to the Bank of Russia and the authorized registering body, which contributes to the unified state register of legal persons record that a credit institution is in the process of liquidation.
