The Ninth Arbitration Court of Appeal upheld the decision of the Moscow Arbitration Court, which recognized as lawful the CBR's decision to revoke the license from Yugra Bank.
According to former governor of Yugra Dmitry Shilyaev, the former management of the bank does not agree with the decision of the appeal and intends to forward the cassation complaint.
"Yugra" took the 29th place in terms of assets in the banking system of Russia. The Central Bank announced the revocation of the license from the bank in late July 2017. This happened 18 days after the introduction of the temporary administration in Yugra. The decision to revoke the license was explained by the regulator by the fact that the bank underestimated the credit risk and incorrectly reflected the transactions in the accounts: "technically" executed the orders, creating the required reserves for one loan and distributing them to others.
Then the regulator noted that almost 90% of Yugra's loan portfolio as of July 1 were loans related to business projects of the bank's owners.
Former heads of the bank are trying to challenge the decision of the Central Bank in court. At the end of last year, the Moscow Arbitration Court confirmed the legality of the regulator's decision to introduce an interim administration into the bank, and later the decision to revoke the license from the bank.
Representatives of "Ugra" promised to appeal against the decision in the cassation instance.
On December 18, a complaint of former managers and owners of Ugra, in which they demanded to recognize the order of the Central Bank to revoke the license invalid and restore the document, was rejected.
The Central Bank introduced a temporary administration in Ugra on July 10. Ten days later, the Prosecutor General's Office protested this decision. The next day, the Bank of Russia sent to the Prosecutor General's Office materials confirming the position of the Central Bank in respect of "Ugra." The decision in them was justified by protecting the interests of depositors and creditors, as well as ensuring compliance with the requirements of federal laws. On July 28, the Central Bank withdrew the license from Yugra, after which representatives of the lending institution filed a lawsuit against the regulator in the Moscow Arbitration Court.
According to former governor of Yugra Dmitry Shilyaev, the former management of the bank does not agree with the decision of the appeal and intends to forward the cassation complaint.
"Yugra" took the 29th place in terms of assets in the banking system of Russia. The Central Bank announced the revocation of the license from the bank in late July 2017. This happened 18 days after the introduction of the temporary administration in Yugra. The decision to revoke the license was explained by the regulator by the fact that the bank underestimated the credit risk and incorrectly reflected the transactions in the accounts: "technically" executed the orders, creating the required reserves for one loan and distributing them to others.
Then the regulator noted that almost 90% of Yugra's loan portfolio as of July 1 were loans related to business projects of the bank's owners.
Former heads of the bank are trying to challenge the decision of the Central Bank in court. At the end of last year, the Moscow Arbitration Court confirmed the legality of the regulator's decision to introduce an interim administration into the bank, and later the decision to revoke the license from the bank.
Representatives of "Ugra" promised to appeal against the decision in the cassation instance.
On December 18, a complaint of former managers and owners of Ugra, in which they demanded to recognize the order of the Central Bank to revoke the license invalid and restore the document, was rejected.
The Central Bank introduced a temporary administration in Ugra on July 10. Ten days later, the Prosecutor General's Office protested this decision. The next day, the Bank of Russia sent to the Prosecutor General's Office materials confirming the position of the Central Bank in respect of "Ugra." The decision in them was justified by protecting the interests of depositors and creditors, as well as ensuring compliance with the requirements of federal laws. On July 28, the Central Bank withdrew the license from Yugra, after which representatives of the lending institution filed a lawsuit against the regulator in the Moscow Arbitration Court.
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