UPDATE2: Otkritie Holding files for bankruptcy

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MOSCOW, Feb 20 (PRIME) -- Russia’s Otkritie Holding, the former main owner of Otkritie Financial Corporation (FC) Bank, has filed for bankruptcy with the Moscow Arbitration Court, according to the court documents seen by PRIME on Thursday.

Otkritie Holding said that it lacks property and cannot fulfill its creditors’ demands.

“A brief description of the signs of insolvency (bankruptcy) that appeared in the relevant organization, provided for by the legislation of the Russian Federation on insolvency (bankruptcy): insufficiency of property and inability of the company to fully satisfy the claims of creditors,” the company said in a report.

A report on the website of the united federal register of corporate bodies and individual entrepreneurs named Bank Trust and VTB Bank among creditors of Otkritie Holding.

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