Arbitration court of Moscow dismissed the claim of “Yugra” Bank. “Yugra” tried to challenge the order of the Central Bank of the Russian Federation on temporal administration appointment.
Attorneys, representing “Yugra” pointed that the Central Bank prescriptions were unenforceable (non-enforcement of the above prescriptions subsequently substantiated temporal administration appointment). Thus, one of the prescriptions referred to creation of additional provisions in the bank in amount of RUB 13,5 Million and reclassification of indebtedness of several borrowers. The Central Bank ordered to enforce the above prescription within one day.
However, such arguments did not convince the court. Specialists consider the court’s decision as predictable, possible challenging of the decision fails any chances. At the same time, Westside law firm partner Sergey Vodolagin notices, that the current situation has certain benefits. “The Central Bank’s actions prior to license withdrawal are not always perfect from the legal point of view and the judicial analysis of such actions may help to improve the regulator’s functioning” – said Vodolagin.