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Court adjourns Yugra bankruptcy case until end of May

The Moscow Arbitration Court has adjourned a hearing until May 31 on the Bank of Russia’s lawsuit seeking to declare Yugra bankrupt

MOSCOW, April 24. /TASS/. The Moscow Arbitration Court has adjourned a hearing until May 31 on the Bank of Russia’s lawsuit seeking to declare Yugra bankrupt, a TASS correspondent from the court room.

"When considering the Bank of Russia's claim for the bankruptcy of the Yugra Bank, the court ruled to postpone the hearing until May 31," Judge Yevgeny Kravchenko said.

Two arbitration courts rejected the applications of Yugra’s owners who demanded that regulator’s actions be declared illegal.

In early July 2017, the regulator appointed the Deposit Insurance Agency as a temporary administrator at Yugra Bank and introduced a moratorium for satisfying creditors’ claims. In late July 2017, the regulator revoked the bank’s license and in August it filed a lawsuit with the Moscow Arbitration Court demanding to declare Yugra bankrupt.

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