IBA’s restructuring plan approved by local court

IBA’s restructuring plan approved by local court
# 17 August 2017 15:53 (UTC +04:00)

“As it is known, a meeting of the Creditors of the International Bank of Azerbaijan was held on July 18, 2017, and as a result of the voting, the creditors who bear 93.9% of the restructuring obligations voted for the plan and it was considered by the Financial Markets Supervision Chamber in accordance with the law of the Republic of Azerbaijan on “Banks””, the IBA stated.

 

The creditors who voted for the plan should submit the document on absence of claims to the Bank by August 22, 2017. The creditors who provide the relevant document will be able to obtain proposed financial instruments by September 1, 2017.

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THE OPERATION IS BEING PERFORMED