The court will consider March 15, the appeal of “Ugra” on the legality of the revocation of the license
The ninth arbitration appeal court declared a break till March 15 in consideration of the appeal of the Bank “Ugra”, included in top-30 Russian banks, on the decision of the lower court, which upheld the order of the Central Bank to revoke the credit organization’s license, the correspondent from the courtroom. The court in Moscow will consider the appeal of the Bank “Ugra” on the legality of the revocation of the license
As explained by the presiding judge Dmitry vyhdorchyk, in the first instance court received the appeal from those not involved in the case, the content of which the court is not yet known. To clarify the issue with these complaints, the court postponed the hearing. According to the representative of the Central Bank, these entities were borrowers of the Bank.
The Moscow arbitration court on 18 December 2017 dismissed the claim of “Ugra” in the face of former top managers and owners of the Bank, who asked to annul the order of the Central Bank of 28 July, and to restore the license. The arbitration of Moscow will consider the statement of the Central Bank of the Russian Federation on bankruptcy of the Bank “Ugra”
The representative of the Central Bank of the Russian Federation in the court of first instance said that the license revocation occurred on two groups of grounds. First, on the basis of repeated violations of the “Ugra” of laws and normative acts of the Central Bank and, as a consequence, repeated application to Bank of measures of Supervisory response. Violations were mainly associated with inadequate assessment of credit risk for loans and, accordingly, nesformirovannost reserves in the required amount and failure to comply with the restrictions on the parameters of deposits of physical persons.
CB representative said that the formal execution requirements “Ugra” used “circuit operation”, in particular with the use of transfer of debt between borrowers, in fact, the regulations had not been executed.
The second basis for revocation of a license, as stated by the defendant, was the reduction of the Bank’s equity below the minimum value and the violation of the standard of the capital adequacy ratio below 2%. According to the representative of the Central Bank, on July 22 the Bank’s own capital amounted to minus 7 billion.
The representative of the Bank “Ugra”, based on the Protocol of the Committee of banking supervision, on 7 July, decided to abandon the use of “Ugra” measures in the form of revocation of license, said the lack of grounds for revocation of licenses, as well as of procedural violations on the part of the regulator.
“Ugra” even said petition fraud submitted to the ASV and the Central Bank buhotchetnosti as of July 22, as of July 7, the Bank’s equity capital was estimated at 33 billion rubles. The court about the falsification of evidence dismissed.
The court of first instance stated in the decision that, “given the nature of the offences, the systematic placing requirements on additional, additional formation of reserves… the sanctions… the court concludes that the defendant violations… more than enough for the application measures in the form of revocation of the license”.
The court also noted that the Protocol Committee on banking supervision intended for professional use, and “the impugned order of revocation of the license is a decision revoking the previous decision”.
Insurance case with the Bank “Ugra”, which the Central Bank since July 28, 2017 revoked the license, was the largest for the period of clearing the banking system of the Russian Federation. DIA has estimated the total amount of payouts to insured depositors of “Ugra” in 169,2 billion.
Central Bank as the main reasons for revocation of the license called project financing beneficiaries “Ugra” at the expense of attracted funds of natural persons (the share of such loans amounted to almost 90%), lack of adequate reserves, the repeated use of Supervisory measures and the violation of the Bank imposed on it constraints. Earlier the Central Bank said that the difference between the liabilities and assets of the Bank “Ugra” (the”hole” in the capital) as of 8 September was 86, 1 billion.
The representatives of the former owners of “Ugra” has previously stated that the regulator was absent, unconditional grounds for the revocation of the license, namely, there was no decline in all standards of sufficiency of own means and size of the Bank’s capital below the minimum value, that is below 30 billion rubles. According to the former owners, complete loss of the Bank’s capital due to changes in the data of accounting on the basis of administrative acts of the interim administration.
The main owner of “Ugra” is businessman Alexei Khotin, which controls 52.5% of capital of the credit institution.