ECONOMY
BANKRUPTCY OF "TRUSTBANK” ANNOUNCED
The decision of the Board of National Bank since February 3, 2004 on the JSC "Trustbank” applies preservation for the period of 3 months. In spite of the fact that in the financial reports submitted to National Bank it is underlined that JSC "Trustbank" has on the accounts (including on the foreign bank accounts) enough actives for performance of the obligations, the bank did not carry out in due time the obligations to clients. Despite of numerous warnings of the National Bank, the bank did not undertake measures for performance of the obligations that finally has led to application concerning its activity of time administration. In this connection, the National Bank has created a preservative group. During preservation, was suspended the powers of shareholders and managers of the Bank.
For the expired period, the preservative group has carried out inventory of actives and obligations of bank, has directed corresponding inquiries to foreign banks, received data about available bank actual financial assets. It has been established, that the “Trustbank" JSC actually has no means for foreign bank accounts, and in the submitted by the bank to the National Bank financial reports uses fictitious documents concerning foreign actives. The corresponding organizations have been already notified on it.
The carried out inventory has shown absence of actives for financial improvement of bank owing to what the decision on the beginning of procedure of bankruptcy was adopted. According to the legislation corresponding assignments have been given to shareholders of the bank.