Solomenskiy district law-court of Kiev acknowledged the restructuring process of BTA Bank as legitimate on the territory of the Ukraine02.03.2010
Almaty, March 2, 2010. – Today BTA Bank informed that the decision of the specialized financial law-court of Almaty city as of October 16, 2009 concerning the case on BTA Bank restructuring was acknowledged legitimate on the territory of the Ukraine. The corresponding solution was carried out by the Solomenskiy district law-court of Kiev on February 17, 2010 and it had come into law force on February 23, 2010.
This decision of the Ukrainian law-court was based on the regulations of the “Convention on legal aid and legal relations in the civil, family and criminal cases”, signed on October 7, 2002 in Kishinev city, the Republic of Moldova, between ten states – the members of the CIS*.
Thus, BTA Bank carries out consecutive work on getting juridical protection of its own assets which are in the foreign jurisdictions from any possible actions from the third persons, who can influence upon the successful completion of the restructuring process of the financial debts of BTA Bank.
Previously BTA Bank informed that on February 5, 2010 it applied to the law-court of the USA on financial insolvency cases, which is under the jurisdiction of Southern region of New York state, for the acknowledgement of the restructuring process of the financial debts of the Bank legitimate on the territory of the USA. At present the statement of BTA Bank is under consideration process by the law-court of the USA.
Besides, BTA Bank earlier informed about the acknowledgement in accordance with the order of the High court of England and Wales, as of December 18, 2009, the restructuring process of the financial debts of BTA Bank legitimate on the territory of England and Wales.
The restructuring of BTA Bank debt is being held within the framework of the legislation of the Republic of Kazakhstan on restructuring, adopted in 2009. On October 16, 2009 the specialized financial law-court of Almaty city acknowledged the statement of BTA Bank about the restructuring of debts sufficient and corresponding to all requirements of the legislation of the Republic of Kazakhstan. On December 7, 2009, in London, BTA Bank and the creditors’ committee signed an agreement about the basic commercial terms of BTA Bank’s financial debts restructuring.
* Azerbaidzhan, Armeniya, Belarus, Georgia, Kyrgyzstan, Moldova, Russia and Tadzhikistan signed this Convention along with Kazakhstan and the Ukraine.
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