Podgorica, (MINA-BUSINESS) – At the proposal of the interim administrator of Atlas Bank, the Central Bank of Montenegro has extended the temporary suspension of payment of the bank’s liabilities for a period of 90 days.
According to the CBCG, the liabilities based on the claims related to wages and other remunerations (salaries, pensions, social welfare, etc.), life and health damages are exempt from the temporary suspension, as well as the running costs necessary for regular functioning of the bank.
The CBCG reminds that the Law on Banks envisages the possibility of a 90-day extension of the moratorium.
According to the interim administrator’s proposal, this period will be used to complete the bank’s capital increase in compliance with the law, as well as for the potential restoration of the shareholders’ control over the bank.
“Bearing in mind that this is an extended measure of temporary suspension of payments by Atlas Bank, which can be shorter than it has been defined, we hope that the depositors and other creditors of Atlas Bank will have understanding for these actions, which are aimed at maintaining the Atlas Bank’s assets and protecting its depositors,” the press release says.
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