UIC Bank Turns Out to Have Nearly 140m RUR Deficit

The stock-taking procedure at UIC Bank revealed that the bank had a cash shortage of about 138.2m RUR, the Russian Agency for Legal & Court Information reports after getting access to ASV’s papers.

The bank’s trustee in bankruptcy says the shortage mainly stems from the ‘other assets’ category.

Following the bankruptcy proceedings, the trustee in bankruptcy placed 41 claims amounting to a total of 505.7m RUR with the courts. 13 claims amounting to 129.7m RUR were sustained.

The trustee in bankruptcy also detected a number of transactions that can be classed as invalid in accordance with the bankruptcy legislation. This is why 19 claims asking to declare transactions invalid were placed with Chelyabinsk Region Court. At the moment, all of the trustee in bankruptcy’s claims are being considered.

The bank’s license was called off on November 1, 2011. After the bank’s liquidity became nonexistent, the bank failed to settle the customers’ accounts in time. According to the Bank of Russia, however, UIC Bank kept on supplying inaccurate data to the Central Bank that did not state all of the unmet customer liabilities. On January 18, Chelyabinsk Region Arbitration Court declared the bank insolvent and appointed ASV the company’s trustee in bankruptcy.


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