CU Wołomin bankrupt. Conclusion FSA for bankruptcy – eGospodarka

CU Wołomin bankrupt. Conclusion FSA for bankruptcy – eGospodarka

The Financial Supervision Commission today occurred on December 12, 2014 to the District Court for Warsaw Praga North from bankruptcy petition Cooperative Savings and Credit in Wołominie. KNF yesterday suspended the operation of the CU.

Financial Supervision Commission established a commissary manager in Cooperative Savings and Credit Cashier in Wołominie at the beginning of November 2014.

Yesterday, the Financial Supervision Authority has suspended the activities of the Cooperative Savings and Credit in Wołominie. Checkout lost liquidity, is unable to meet its obligations in relation to the payment of deposits made by members of the cash register. Suspending the activities of money, KNF announced that he expected no later than 12 December 2014., A firm position of the National Fund for Credit Unions Wołomin possible support. National Association for today’s meeting, the Financial Supervision Authority has stated that it will provide financial assist ance to credit unions Wołomin.

Unable to support

According to the National Fund, the liquidity loan can only be granted if credit unions have the ability to repay. In the absence of the ability of credit unions liquidity to repay the loan, National Association can not therefore, without prejudice to the provisions of law, to provide support for credit unions. According to the National Association Credit Unions receivership manager Wołomin not yet made a rehabilitation program, and credit unions Wołomińska not performed to examine the books of account as at the introduction of the board of trustees, it is therefore not possible to reliably assess the actual status of the Fund.

KNF so decided to apply to the court for a declaration of bankruptcy of the credit unions.

If the court accede to the request NFC and credit unions Wołomin bankrupt, it will be the second bankruptcy in the CU . In late September, the District Court Gdańsk-North, at the request of the Financial Supervision Authority has decided to declare bankruptcy Gdansk Cooperative Savings and Credit “Community”.

Deposits unthreatened

Speech by the Financial Supervision Authority with the application for bankruptcy credit unions in Wołominie opens the way to start the disbursement of funds guaranteed by the Bank Guarantee Fund (BGF).

According to the Act on the BGF, guaranteed funds are paid by the BFG within 20 working days from the date of filing for bankruptcy credit unions. BFG as a whole guarantees deposits up to PLN equivalent of 100,000 euros, regardless of the number of accounts held by a person in the Cashier. In the case of a joint account each of the co-owners shall have a separate limit.