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Rosbank and MFK bank to stop dealing with bankruptcy

ROSBANK and the MFK bank are about to stop dealing with bankruptcy and the restructuring of banks, and are delegating this function to GUTA BANK, said Georgy Zabolotsky, first vice president of ROSBANK. Both banks are major creditors of INKOMBANK and have ceded their claims against the bank to GUTA BANK.

According to the newspaper, ROSBANK and MFK have managed to muster over 50% of all the claims put forward by the fifth line of INKOMBANK clients. The INKOMBANK debts were bought up at 9% to 10% of their nominal value with a view to recovering 15% to 30% of the nominal value of debts as a result of bankruptcy proceedings against the bank. MFK and ROSBANK explained their decision by their merger and a desire to rid themselves of non-core assets.

(NewsBase 12.viii.02)

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