UPDATE: Jugra Bank asks court to rule cbank’s actions unlawful

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MOSCOW, Jul 25 (PRIME) -- The Moscow Arbitration Court has registered an application by Jugra Bank to declare decisions and actions by the central bank unlawful, according to court documents seen by PRIME on Tuesday.

The application arrived to the court on Monday. The contested actions by the central bank were not named.

On July 10, the central bank introduced a three-month moratorium on creditors’ demands at Jugra Bank and appointed the Deposit Insurance Agency (DIA) as an interim administration for six months. Central bank’s Deputy Chairman Vasily Pozdyshev said then the regulator believed that Jugra Bank had been providing misleading reports for several months and suspected the bank of asset withdrawal and manipulations with deposits.

Spokesman for the president Dmitry Peskov said that the Kremlin rules out intervening in the Jugra Bank situation. “This is the right of the (central) bank and in this case, we do not see it possible to intervene in the issue in any way.”

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