MIL-OSI EU-Baltics: On results of provisional administration-conducted inspection of financial standing of CB LIGHTBANK LLC (10.07.2018)

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Source: Central Bank of the Russian Federation in English

Information Notice
On results of provisional administration-conducted inspection of financial standing of CB LIGHTBANK LLC
The provisional administration of CB LIGHTBANK LLC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-776, dated 29.03.2018, due to the revocation of its banking licence, has established that the former management of the Bank used its authority to assign preference order to over 90 million rubles of creditor claims on monetary obligations.
Furthermore, the provisional administration has established that the Bank’s former management and owners actions suggest the intention to siphon off assets by extending loans to borrowers with dubious solvency, as well as to corporate borrowers without real business operations; or the intention to conceal transactions aimed at withdrawing the Bank’s assets.
The provisional administration estimates the value of the Bank assets to be not more than 403 million rubles, vs over 810 million of its liabilities to creditors.
On 18 May 2018, the Arbitration Court of the City of Moscow recognised CB LIGHTBANK LLC as bankrupt. The State Corporation Deposit Insurance Agency was appointed as a receiver.
The Bank of Russia submitted the information on the financial transactions bearing the evidence of criminal offence conducted by the Bank’s executives to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation for consideration and procedural decision making.

10 July 2018
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