History of a bankruptcy


Do not know how beautiful bankrupt in Russia. So that taken separately enriched administrator and creditors received about 10 cents on invested ruble, or bankrupt estate was on account of personal notary quickness private liquidator - plenty. Here's how to honorably withdraw from difficult situations, to take into account the interests of creditors and clients, and to bring the matter to its logical conclusion - this is still a rarity. All the time something interferes. Here is a recent example - the history with the bank, "Investment Banking Corporation" (CSI). It seems that the Bank of Russia did everything quickly for normal bankruptcy procedures. But came to a standstill ...

The scrip - not renounce

Half dead now Bank <Investment Banking Corporation> (CSI) has become one of the largest in Russia after the 1998 crisis. In mid-2001, CSI controlled 70% of all car loans and 48% of mortgage loans. In the ranking of the magazine <Kommersant-Money> CSI on January 1, 2002 about 21-e among Russian banks in terms of capital (3.3 billion rubles.) And 52 th in total assets (6.1 billion rubles).. In February 2002, the bank was losing large customers, and in the spring went delayed customer payments. In late April, the Bank of Russia revoked the license of CSI, and the rating agency Standard & Poor's downgraded the bank to category D (default). Officially, the problems were caused by the decline in the bank's current liquidity, which tried CSI <patch> on the interbank market. In fact - the problem lay in the extremely poor quality of corporate governance and unwillingness to meet its own obligations.

An indirect confirmation of the latter thesis is the following. In 2001, when the position of the bank has deteriorated most rapidly began to increase the volume of loans is often questionable or subsidiaries. The beginning of this year, the bank has to delay payments for up to a week. We can not say that the leadership of the CSIs do not take action - according to the Central Bank checks, were dismissed and 80% of employees. However, the <sign of the will to save> avail.

In March, the state of affairs at the bank could no longer be hidden, and the Central Bank revoked the license <due to the fact-finding substantial misreporting data, inability to satisfy the claims of creditors on monetary obligations and fulfill the obligation to make mandatory payments, and given the repeated application of measures of the supervisory >.

Zloyazykie journalists immediately dubbed CSI <first victim Ignatiev>. Lenders were encouraged by the fact that the Bank of Russia promptly introduced a temporary administration, staffed than CB specialists, experts from the Agency for Restructuring Credit Organizations (ARCO).

A feeling that is about to be able to remove the root of all creditors' troubles - the sluggishness of the claim of creditors, and the government put an end to an extremely profitable for certain people "business bankruptcy."