The Arbitration Court overturned the decision of the Central Bank to revoke the license from the bank

The Ninth Arbitration Court of Appeal considered the complaint of the credit institution and one of its creditors. The applicants challenged the orders of the Central Bank of the Russian Federation to revoke the bank's license and appoint a temporary administration to manage the credit institution. Both claims were rejected in the first instance.

The disputed documents are dated in the fall of 2021, and violations of federal laws and regulations of the Bank of Russia served as the basis for their issuance. The facts were established during the inspections carried out against the credit institution.

Challenging the orders, the bank pointed to the formality and insignificance of the violations committed by it, but the court of first instance did not convince these arguments.

At the same time, the appeal took the side of the credit institution, canceling the decision previously made in the case. The full text of the appeal ruling has not been published at the moment, but the bank's website contains an excerpt from the court ruling.

It follows from its text that the court declared illegal the fact of revocation of the license from the bank "Platinum" and ordered the Central Bank of the Russian Federation to renew it. Additionally, the regulator, as the losing party, was charged court costs both in favor of the bank and one of its creditors who challenged the decision of the court of first instance (case No. A40-226623/21-92-1528 ).