Croatian National Bank
Pursuant to Article 265, item (1) and Article 267, paragraph (1) of the Credit Institutions Act (Official Gazette 159/2013, 19/2015 and 102/2015), Article 28, paragraph (6) of the Act on the Resolution of Credit Institutions and Investment Firms (Official Gazette 19/2015) and Article 42, paragraph (3), item (9) of the Act on the Croatian National Bank (Official Gazette 75/2008 and 54/2013), the Council of the Croatian National Bank adopted a decision at its session on 24 May 2016, at 15:00 hours, to submit a request to open bankruptcy proceedings against Banka splitsko-dalmatinska d.d., Split, 114. brigade 9.
The Croatian National Bank has determined that in the case of Banka splitsko-dalmatinska d.d., the grounds for bankruptcy referred to in Article 266, paragraph (1), item (1) and item (2), and in connection with paragraph (2) item (3) and item (4) of the same Article of the Credit Institutions Act, have been found to exist.
Pursuant to Article 267 of the Credit Institutions Act, the said decision has the following effects:
1) temporary restriction of executions of orders for forced collection of payments debited to the credit institution's account in accordance with the law governing the execution of cash assets;
temporary restriction of credit institution's payments from all its accounts for its own account and of payments to its accounts;
3) temporary restriction of credit institution's provision of payment services via payment cards; and
4) temporary restriction of credit institution's payments and transfers from the accounts of its clients.
The debtors of Banka splitsko-dalmatinska d.d. are obligated to continue meeting all their obligations towards the Bank by cash payments or by payments to the Bank's transaction account opened with another credit institution, the decision on which will be communicated to the public by special administration without delay.
The Croatian National Bank has notified the Financial Agency and Banka splitsko-dalmatinska d.d., Split that a request to open bankruptcy proceedings has been submitted.