17:00, 8 April 2013

Dagestan: court finds "Express" Bank bankrupt

The "Express" Bank from Makhachkala has been declared bankrupt by the decision of the Arbitration Court of Dagestan, said the lawyer Rafik Mamatov.

On January 8, the bank stopped serving individuals; and on January 21 its license was revoked. On February 8, the Central Bank of Russia appealed to the Arbitration Courtfor recognition of the "Express" Bank bankrupt, because of the insufficiently high cost of assets to meet its obligations before the creditors.

The shareholders of the bank and their representatives could not influence the course of the procedure, since the temporary administration of the "Express" was the respondent; the "Caucasian Knot" correspondent was told about it by Rafik Mamatov, who represents the interests of Adimirza Adimirzaev, one of the shareholders of the Makhachkala bank and its deputy CEO. The lawyer has not specified any details about the session.

The Court of Arbitration of Dagestan has reported that a motivated decision on recognizing the "Express" Bank insolvent will appear on the website of the court within five days.

Author: Aida Magomedova

Source: CK correspondent