MOSCOW, September 8 (RIA Novosti) - The Moscow-based Meritbank has been unlicensed for federal laws and Central Bank bylaws shrugged off, announced Central Bank PR.
Depositors have been fleeing the Merit en masse since mid-June to offer it liquidity problems, and settlements were suspended. Meritbank clients complained to the Central Bank on many occasions with contracts and payment schedules trespassed. Merit accounts, meanwhile, covered up its predicaments.
The Central Bank was recurring to coercion on the Merit throughout the preceding twelve months with bans on, or limitations of particular transactions-all to no avail.
The Central Bank appointed a Merit assignee, September 1. The assignee confirmed the bank's bad problems and spoke for the bank unlicensed.
