MOSCOW, November 16 - RAPSI, Dmitry Shchitov. A Moscow commercial court satisfied an application by Krasbank's bankruptcy manager to declare the bank bankrupt, the court told the Russian Legal Information Agency (RAPSI) on Tuesday.

Commercial Bank Krasbank operated on the banking market since 1991.

The Deposit Insurance Agency was appointed the bank's bankruptcy manager. Previously it was the bank's receiver.

According to the agency, courts satisfied 76 lawsuits by Krasbank to recover the loan debt worth $72.52 million.

On May 22, 2008, the Central Bank revoked the Krasbank's banking license.

The Moscow Commercial Court decided to liquidate the bank on July 9, 2008.