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To the investors of CFF «PATRIOTYKA»


Bank «АRCADA» had fixed several cases of violations of the requirements of the current legislation regarding the dissemination of biased and inaccurate information on the alleged use by the Bank of fraudulent actions to raise funds for the construction of the Residential Complex  "PATRIOTYKA ON THE LAKES" relating the situation of the bankruptcy case of the land user “Kontaktbudservis” LLC by means of social networks and mobile applications.

Distributed information is aimed at discrediting, creating a negative image and undermining the Bank's business reputation.

Without being subject to provocative actions, Bank "ARCADA", acting in accordance with the current legislation, is concerned about the actions that may affect the Bank's operations, thereby damaging the interests of clients, counterparties and shareholders of a stable banking institution and considers it necessary to report the following.

Information on the prosecution of a land user  bankruptcy case (LLC "Kontaktbudservis") is open, known to the Bank and is not concealed by the Bank, the developer or the land user.

By disseminating negative information about the Bank, its authors` attempt to introduce a wide range of current and potential clients of the Bank into misleadingly identifying the initiation of proceedings in a bankruptcy proceeding with the recognition of the debtor as a bankrupt.

We would like to state that the law provides for a number of procedures to restore the debtor's solvency and only in case of their ineffectiveness - the recognition of such a debtor bankrupt and the introduction of a liquidation procedure.

In addition, the right to develop land plots, on which the construction of the R/C "PATRIOTYKA ON THE LAKES " has begun, was transferred to "Budevolutsiya", which is a financially stable enterprise and has proved its ability to implement large construction projects on the example of the R/C "PATRIOTYKA”.

We assure you that the Bank, as the manager of the CFF, submits to comprehensive analysis and control in order to avoid any risk situations during construction, and at present there are no reasons for stopping the construction or canceling permits.

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