About revocation of licenses of PJSC “Tatfondbank”, PJSC “IntechBank” and JSC “Anchor Bank”

By the Bank of Russia Orders of 03.03.2017 ## OD-542, OD-546, OD-550 were revoked the licenses of PJSC “Tatfondbank”, PJSC “IntechBank” and JSC “Anchor Bank” and were assigned temporary administrations out of the Bank of Russia employees with duration of validity until the appointment of bankruptcy commissioner as per the Federal Law “On insolvency (bankruptcy)” or liquidator in accordance with Article 23.1 of the Federal law “On banks and banking activity”.

Revocation of banking license, effected before creditors' claims satisfaction moratorium expiry date, shall not vacate legal consequences of introduction thereof, including deposit insurance payment duty of State Agency for Deposit Insurance.

The insured funds (subject to compensation through DIA) are citizens’ money placed on fixed-term deposit and call deposits, including foreign currency deposits; on-demand account, including those used for settlements with bank cards, for getting salaries, pensions and scholarships; and on individual entrepreneurs accounts.

Insurance indemnity is paid to depositor in the amount of 100 percent of all bank accounts (deposits) totality, including opened for business activities, but not more than 1.4 million rubles in whole.

The amount not covered by the insurance will be repaid in the course of bank liquidation procedure, as part of the preferred creditors’ claims (for individual entrepreneur accounts opened for business activities, as part of the claims of third-priority creditors).

Insurance indemnity of foreign currency bank deposits (account) is calculated in rubles at Bank of Russia exchange rate as of the date of occurrence of the insured event.

Additional information on insurance indemnity payment procedure may be acquired by investors using DIA hotline (8-800-200-08-05), as well as on DIA website section “Deposit insurance/Insurance cases” (www.asv.org.ru).

Investigation of credit institution for the purpose credit institution property (assets) value estimation, revealing signs of insolvency (bankruptcy) and preparation of request for submission by Bank Russia of a claim declaring credit organization bankrupt or requesting its elimination to the Arbitration Court are the main tasks of temporary administration.

Making decision by arbitration court on declaring credit organization bankrupt entails opening of bankruptcy proceedings. Bankruptcy proceedings are introduced for one year period.

The major purpose of bankruptcy commissioner is formation of creditors' claims register and the bankruptcy assets.

Fulfillment of liabilities to credit organization’ creditors in the order established by Article 189.92 of the Federal Law # 127-FZ “On Insolvency (Bankruptcy)” shall be effected out of bankruptcy assets.

In the first instance shall be satisfied claims of individuals towards which the credit institution is responsible for personal injury or infliction of life harm, under concluded bank deposit (account) agreements with credit institution (except for claims of individuals involved in entrepreneurship activity without establishment of legal entity, if accounts are opened for statutory entrepreneurship activity), DIA claims under the bank deposit (account) contracts passed to him in accordance with the Federal Law “Concerning the Insurance of Deposits of Physical Persons with Banks of the Russian Federation”.

On a second-priority basis shall be satisfied claims for payment of severance allowance and salaries of persons working or having worked under the labor contract, claims for remuneration of intellectual deliverables authors, claim for repayment of personal income and trade union membership fees tax amounts withheld before revocation of banking licenses.

On a third-priority basis shall be satisfied all other claims not related to the first and second s priority basis (including legal entities claims).

Particulars of documents submission for participation in public procurement of “hazardous” works has been clarified

Russian Ministry of Economic Development in the lettre de cabinet dated 27.01.2017 # D28i-336 clarifies that procurement party shall submit, as part of the application, the certificate of admission to the works under general contracting or furnish tolerances for types of work, affecting safety of capital construction, depending on the language in the procurement documentation.

The Ministry of Economic Development has earlier repeatedly expressed the similar opinion (in lettre de cabinet dated 14.09.2016 # D28i-2545).

The Ministry lead-up is based on the provisions of the Russian Federation Town Planning Code and List of types of work, affecting safety of capital construction. The List also includes construction planning works, i.e., general contractor works.

Taking into account Ministry of Economic Development recommendations the governmental customer has the right to set requirements of submission only certificate of admission to the works under general contracting. In this case, exactly his name shall be mentioned in the application of the procurement party.

If in this case the procurement party tries to present certificate of admission to specific types of work, the customer shall not accept the document, since according to FAS requiring certificate of admission to specific types of work from procurement party is illegal.