Agency performance as corporate bankruptcy trustee (liquidator)
of credit institutions

Operating as a corporate bankruptcy trustee (liquidator), the Agency abides by acting legislation, normative acts of the Bank of Russia, and banking regulations.

The Arbitration Court appoints the Agency as a bankruptcy trustee (liquidator) for insolvent credit institutions licensed by the Bank of Russia to operate with household deposits, as well as in bankruptcy cases of non-existent credit institutions-debtors, and when a private individual is dismissed as bankruptcy trustee.

The Agency abides in its activities by the following principles:

• Strict protection of the rights and lawful interests of creditors,

• Transparency of bankruptcy and liquidation procedures, disclosure of corresponding information,

• Subordination and accountability of the Agency representatives acting as bankruptcy trustees to the managing bodies of the Agency,

• The Agency acts as a bankruptcy trustee (liquidator) under control of the creditors of liquidated banks, arbitration courts, and the Bank of Russia.

The Agency executes its duties of a bankruptcy trustee (liquidator) through its representatives acting upon a power of attorney and comprising the staff of the liquidated credit institution, who conduct liquidation/bankruptcy management operations. No remuneration is paid to the Agency for acting as a bankruptcy trustee (liquidator).