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. Last Updated: 07/27/2016

Uneximbank Appeals

MOSCOW -- The United Export-Import Bank, or Uneximbank, has appealed to the Central Bank to disavow a July 1, 1999 resolution delicensing the bank. A bank statement says the motion follows a decision of the absolute majority of creditors to restructure the bank's obligations. Uneximbank has presented a detailed plan of reinstatement and the documents that confirm agreements with creditors - information memoranda, the certificate of voting, copies of creditors' bulletins and an excerpt from its meeting agenda. Uneximbank is the financial arm of Vladimir Potanin's Interros Group.

Uneximbank hopes the Central Bank will make a positive decision on its appeal since the law on lending institutions says an institution can sign an amicable agreement with creditors only if it has a Central Bank license.

Uneximbank creditors had a meeting Nov. 11, 1999. It brought together representatives of 98 percent of the legal demands. To ensure the process of restructuring, the creditors passed a decision to instruct the temporary manager of the bank, Vladimir Druzhinsky, to appeal to the Moscow Arbitration Court to cancel the bankruptcy lawsuit and to appeal to the CBR to restore its license.