10:54 29/05/2017
MOSCOW, May 29 (RAPSI) The Moscow Commercial Court had declared Pallada Asset Management, oldest management company in Russia, bankrupt, RAPSI learnt in the court on Monday.
The company, founded in 1996, is an acting manager of retirement savings for a non-state pension fund (NPF) Mechel-Fund. The court has found that there are indications of the organizations bankruptcy because its accumulated debt is larger than the amount of financial assets at its disposal.
In the summer of 2016, the Central Bank revoked the companys license for management of investment funds, mutual funds, and non-state pension funds. All mutual funds opened before and during the procedure of bankruptcy are to be transferred to a special deposit …
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