The Law Firm "YUST" was accredited with the Deposits’ Insurance Agency

The Law Firm "YUST"’s application was successfully drafted as a result of the additional selection of organizations in the nomination “Legal Counsel” for the state corporation “Deposits’ Insurance Agency” (DIA). According to the Regulations dated 06.06.2013 (minutes No. 34) adopted by the Board of the DIA, the Contest Commission decided to include the Law Firm "YUST" in the list of specialized organizations entitles to render services to the Agency during dissolution of credit organizations.

For reference:

The Deposits’ Insurance Agency was created in January of 2004 pursuant to the Federal Law No. 177-FZ “On insurance of deposits of individuals with the banks of the Russian Federation” dated 23.12.2003. For the purposes of ensuring the functioning of the system of insurance of deposits, the DIA pays to the depositors compensation on deposits in insured accidents; keeps the register of the banks that participate in the system of insurance of deposits; controls the forming of the deposits’ insurance fund, including with the contributions from banks; manages the finances of the deposits’ insurance fund. Participating banks – 878 (as of 09.09.2013 г.), the amount of the fund — 238.7 billion (as of 09.09.2013), insured accidents — 138.

When the Federal Law No. 121-FZ “On amendments to the Federal Law “On insolvency (bankruptcy) of credit organizations” and on ruling certain legal acts (provisions of legal acts) of the Russian Federation expired” dated 20.08.2004 was adopted, the institution of corporate trustee in bankruptcy for insolvent banks was created. The Agency was charged with the respective functions. The number of dissolution procedures in relation to banks - 302, the number of completed dissolution procedures - 191.

The Federal Law No. 175-FZ “On additional measures of strengthening the stability of the banking system until December 31 of 2014” was adopted on October 27 of 2008, pursuant to which the Agency was also endowed with the functions on financial improvement of the banks. The Agency has taken part in 19 projects of reorganization of banks.

The Law Firm "YUST" was founded in April of 1992, and has maintained the leading positions in the area of legal support of its clients’ interests within bankruptcy (insolvency) proceedings for 21 years. The Firm’s specialists employ elaborate and tested in practice strategies of legal assistance in their work. The professional experience of the Practice’s lawyers encompasses the entire territory of the Russian Federation. Large banks and companies are permanent clients of the Firm.

Some publications by the Firm’s specialists:

A.V.Kukin, V.V.Raudin. Expansion the creditors’ demands list. How to counter the abuses by interested persons // Arbitration Practice, №3, 2013
A.V.Kukin A debtor’s bankruptcy. What the creditors’ risks are // The Moscow Times, 14.12. 2012
A.V.Kukin, R.N.Smirnov. Holding bankruptcy proceedings in relation to joint debtors // Corporate Lawyer, № 5, 2012