The Arbitration Court of the region considered the claim of the Central Bank of the Russian Federation Central Administration for the bank to liquidate it in connection with the revocation of the banking license. In support of their requirements, the management referred to part 4 of Art. 20 of the federal law “On Banks and Banking” and the Central Bank’s instructions, according to which the revocation of the license entails the unconditional liquidation of the credit institution in court. The representative of the bank, objecting to the lawsuit, said that these instructions do not comply with the Civil Code of the Russian Federation and therefore are not applicable in the dispute. Nevertheless, the court ruled to liquidate the bank.
Evaluate the legality of the judgment.
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