Amsterdam Trade Bank (ATB), a lender linked to Russia’s Alfa Group, was declared bankrupt in the Netherlands after it couldn’t make payments because of U.S. and U.K. sanctions against Moscow.
The Amsterdam District Court declared the lender bankrupt on Friday, with the central bank activating a deposit guarantee for account holders, according to a statement Friday from the monetary authority. ATB said in its statement that it applied for bankruptcy.
ATB was not subject to European Union sanctions but “British and U.S. sanctions caused payment system problems for the bank,” a spokesperson for the trustees appointed by the court ...
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