History of a bankruptcy

Cover for oligarchs

Staff estimated the interim administration, funds from the sale of the bank's assets enough to pay private investors, Budget and substantial compensation of deposits of legal entities. By Russian standards, not only to priority waiting means missing - almost unprecedented case of a bank failure. Lenders are prepared for rapid resolution of their problems, but suddenly happened ... normal for Russia. At the suit of one of the minority shareholders was filed against the Bank of Russia on the illegality of the revocation of the license and the introduction of an interim administration in the bank IBK. Applicant - LLC "Vanetti> - has a little more than 3% of the shares.

Now before the court decision and the bank will not work, and money lenders will not receive. Since the applicant is not in the courts, when the bank will be able to proceed to the calculations - is unclear.

It is not clear and the purpose it needs this kind of shareholder micron process. World practice shows that the fast-moving and transparent bankruptcy even shareholders (being lender of last queue) return to 80% of investments in equity capital of bankrupt companies or credit institution. Provided that the holding of the liquidation procedure is controlled by a large corporate (in most countries - the state) of the liquidator. In case of delay, the shareholders, especially minority, do not get anything.

And more. Why minority shareholders, whose share in the authorized capital of the bank in terms of money goes to zero, suspend bankruptcy proceedings and be fairly substantial legal costs? Common sense dictates that a minority shareholder, if he does not suffer from mental health problems, it is hardly necessary, he did not benefit from it.

Conversely, the later will be a settlement agreement with the investors, the longer he'll kick the blood money. So, again, the minority shareholders in the Russian way is used to cover up his dealings oligarchs Majoritarian? ..

"Not as Tokobank!"

Bankruptcy proceedings are the standard mire <script> and are in the same ritual, like every important stage of life. They include mandatory parts - the introduction of a moratorium on compliance with the requirements of the debtor, a roster, the liquidation balance sheet accounts payable, legal fixation into the death of the enterprise and a corresponding entry in the register of companies. In general, like all other people. And one more thing. Bankruptcy procedure in the world is relatively inexpensive. The reason is, again, that the liquidation of credit institutions involved in corporate liquidators. They strictly adhere to established limits on the necessary procedures and carry the pressure from the both the largest creditors and former shareholders, what is usually subjected to a special administrator.

In Russia, such cases are extremely rare. We will not deal with the banks of the early nineties, and focus only on the largest financial institutions recently. The story of the bankruptcy Tokobank still pores causing panic among foreign creditors in complex situations and future bankruptcies begin to repeat a prayer: <Not as Tokobank! Just not as Tokobank!>. There are also more <fresh> example - bankruptcy of the former <system-> bank as Agroprombank. Costs of its "funeral> exceed the amount received by the end of liquidation, four times.

In fairness, it should be noted that Russia has managed to find and return example - the elimination Kuzbassprombank. Costs of bankruptcy did not exceed 10% of the liquidation estate, and private investors have the satisfaction of their claims by almost 90%. Fully repaid debts to the budget and partially granted the lenders - entities. The first payments were less than one year from the commencement of the liquidation, final payments were made to investors and a half years since the implementation of the program liquidation.

With CSI might be the same. However, because of the circumstances and the imperfections of the Russian legislation lenders for more than six months waiting for defining solutions and hope to get my money back.