The Bankruptcy Of Master-Bank

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master-Bank bankruptcy

11 of february 2014, the Agency on insurance of contributions has informed that expenses for carrying out of procedure of bankruptcy of Master Bank will be 921,8 million rubles. Bankruptcy proceedings will continue until 31 March 2014.

More than 90% of all costs have on wages and workers ' compensation Bank. The amount of money necessary for the payment of advance payment for January employees of the Bank is 29.6 mln transportation Costs of the Bank's property, storage and maintenance of the properties belonging to the Master-Bank on the property right, will be about 6% of the total costs.

Recall that the license of Master Bank was revoked by the Central Bank on 20 November 2013. This decision was made due to the fact that the Bank was involved in big doubtful operations, which unwittingly became more than 200 thousand legal entities and more than 2 thousand individuals. the Bank in 2013 cashed out through the cashier more than 200 billion rubles (exceeded 60% of the entire issued cash).

The Moscow arbitration court of 16 January 2014, granted the petition of the Central Bank of the Russian Federation, having recognized the OJSC "Master-Bank" bankrupt. Against Master Bank opened bankruptcy management. The Agency for Deposit insurance was appointed as receiver.

A bit of history

Master-Bank was founded in 1992. In terms of assets the Bank ranked among Top 100 Russian banks, ranking him 70th place. The Bank had 12 branches in 10 regions of Russia. The volume of funds on accounts of natural persons, the Bank occupied 39-e a place.

At the time of the revocation of the license of the Bank had commitments before its depositors in the amount of more than 47 billion rubles.

Insurance payments OJSC "Master-Bank" was recognized as the largest in the history of the Agency for Deposit insurance. However, previously the Deputy head of the Agency said that to compensate individuals will be about 30 billion rubles. Although this sum is large, but the Fund is not critical.

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