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Activities of provisional administration of Public Bank JSC

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The provisional administration to manage Public Bank JSC (hereinafter, the Bank) appointed by Bank of Russia Order No. OD-1175, dated 24 July 2020, following the revocation of its banking licence, in the course of the inspection of the Bank encountered numerous instances of resistance on the part of S. Turbin, Chairman of the Bank’s Board, constituting non-compliance with the provisions of Article 189.35 of Federal Law No. 127-FZ ‘On Insolvency (Bankruptcy)’ concerning the submission of title establishing documents for the Bank’s assets.

The provisional administration has forwarded information on the illegal actions to respective divisions of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

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Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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