Board of Supreme Court declares Delta Bank bankrupt

The board of the Supreme Court of Belarus took a decision to declare Delta Bank bankrupt and launch a liquidation procedure.

The procedure is expected to be completed by December 21, 2016. A conclusion on absence of false or deliberate bankruptcy must be submitted to the court by September 1, 2015, BelaPAN news agency reports.

As the court learnt from Aliaksandr Piadzko, the deputy general director of the Agency for Guaranteed Deposit Repayment for Individuals that manages the case of Delta Bank's economic insolvency, the total amount of claims to the bank is 2.7 trillion Belarusian rubles, including 1.6 trillion rubles of unscheduled claims.

The bank's assets are estimated at 1.9 trillion rubles, movable and immovable property – at 177 billion.

Piadzko says Delta Bank has the permission of the National Bank to buy foreign currency. It buys foreign currency through Moscow-Minsk Bank, and has purchased 30.5 million dollars. The money will be spent on repaying the foreign currency debt. The National Bank has 157 billion Belarusian rubles of Delta Bank, more than 6 million euros, 32 million dollars and 55 million Russian rubles.

Piadzko says the liquidation procedure may be completed earlier if the bank performs its obligations. The main wave of staff dismissals is planned for October-November this year.