MOSCOW, December 4 - RAPSI. The Moscow Commercial Court will consider on January 23 whether to extend the bankruptcy procedure at the International Industrial Bank (Mezhprombank), the court told the Russian Legal Information Agency (RAPSI/rapsinews.com) on Tuesday.

According to the court materials, the motion to extend the bankruptcy procedure was submitted in November by the Deposit Insurance Agency, the bank's bankruptcy receiver.

The court already heard the bankruptcy receiver's report in June, and decided to extend the procedure for six months.

Claims amounting to 85 billion rubles ($2.75 billion) were included in the list of the shareholders' claims. These were mostly third-priority creditor claims.

First- and second-priority creditor claims worth 5.5 million rubles ($178,360) and 1.5 million rubles ($48,643) were satisfied in full.

The Bank of Russia revoked the International Industrial Bank's license in October 2010. The bank was controlled by former Senator Sergey Pugachyov, who failed to use the chance that he was given to settle all outstanding issues with Russian and foreign creditors.

For a long time, the bank was among the top 30 in Russia. In 2000, it increased its charter capital to 25 billion rubles ($810.7 million), which was an unprecedented amount at the time.The bank owed 32 billion rubles ($1.03 billion) in unsecured debt to the Bank of Russia.

In late July 2010, the Bank of Russia took the unprecedented decision to restructure its debt, having extended the payment period and turned the unsecured debt into secured debt.

The shares of companies belonging to Pugachyov's United Industrial Corporation's Sudostrenie division allowed for the move.

However, the measure failed to help the bank.

In 2010, the bank was found bankrupt. The Deposit Insurance Agency was appointed its bankruptcy receiver.