Specialized Financial Court of Almaty Approved BTA Bank's Restructuring Plan02.07.2010
Yesterday the Specialized Financial Court of Almaty approved the Restructuring Plan of JSC BTA Bank as set forth in the Information Memorandum dated May 1, 2010 as amended and supplemented on May 19, 2010 and May 27, 2010. On May 28, 2010 Claimants approved the Restructuring Plan by a 92.03% majority at the Claimants’ Meeting held in Almaty and it has been also approved by the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organizations (FSA) by Resolution № 83 as of June 4, 2010.
The Court’s decision shall come into force on July 11, 2010 when the Restructuring Plan will become legally binding on all Claimants whose Claims are to be restructured under the Plan.
BTA Bank’s Restructuring is being conducted under the laws of the Republic of Kazakhstan on bank restructuring and was initiated on October 16, 2009 when the Court recognized the Bank’s decision to restructure its financial debt as reasonable and compliant with the laws and approved in full the Bank’s application to commence the restructuring.
Senior PR Expert /International Activity
PR & Advertising Department/JSC BTA Bank
Tel.: +7 (727) 266-47-99
Fax. +7 (727) 250-12-55