UrBC, Yekaterinburg, April 27, 2012. Bank Yekaterinburg intends to place itself on the list of the newly insolvent Cardinal TechnoPlus’s creditors. It was reported to UrBC that the application for determining the scale of the creditors’ claims has already been submitted to Sverdlovsk Region Arbitration Court judge in charge of the bankruptcy case.

The application for declaring Cardinal TechnoPlus insolvent was placed with the court by the company’s liquidator E. Tsyganova. The reason for placing the application was that the amount of creditors’ claims which the debtor did not contest exceeded the value of the latter’s assets. The decision that the company should go into liquidation was made on November 24, 2011, when the company’s debts came to 7.07m RUR (including 5.39m RUR worth of debts to Yekaterinburg Municipal Bank).

Sverdlovsk Region Arbitration Court ruled on March 7, 2012 that Cardinal TechnoPlus should be considered insolvent.