The president of the Administration Board of Victoriabank is accused by shareholders of the bank of resorting to different legal and illegal measures in order to keep her position.

On December 31 last year, the Administration Board decided to hold the general assembly of shareholders on February 6. Representative of the insurance company “Asito”, which owns 5% of the bank’s shares, maintain that the decision was taken by violating the regulations and the Board’s president will be able to challenge the legality of the decisions that will be taken by the shareholders if she does not like them.

Senior jurist of “Asito” Angela Maxim, in a news conference at IPN, said the decision of the Administration Board was disputed in court. The Botanica Court suspended it, but the Appeals Court upheld it. “Functionaries of the Appeals Court told me that Misses Politov-Cangas (president of the Administration Board of Victoriabank – e.n.) met with the court’s president the day the decision was to be passed,” she stated.

According to the jurist, the shareholders still do not have access to information about the loans provided by the bank and the institution’s financial situation. ”Probably, Missis Politov-Cangas feels that she is losing her post and makes everything possible to keep it,” said Angela Maxim.

The company “Asito” and several other shareholders that together own 25% of the bank’s shares demand holding the general assembly of shareholders on February 28, in accordance with the regulations. They propose electing a new administration of Victoriabank then.