The Moscow Arbitration Court Has Recognized Restructuring of BTA in The Russian Federation20.09.2010
Today JSC BTA Bank (hereinafter – the Bank) informed that the decision of the Specialized financial court of Almaty on October 16, 2009 in regard to debts’ restructuring of BTA Bank has been recognized in the Russian Federation. The decision was made by the Arbitration Court of Moscow on Sept. 14, 2010.
BTA Bank considers the decision of the Russian court as a fundamental and final, as the Moscow Arbitration court considered the claim of the Bank for the second time after the cancellation of the original decision made by the Federal Arbitration Court of Moscow district earlier.
At present, the debts’ restructuring procedure of the Bank has been successfully completed as stipulated in the decision of the Specialized financial court in Almaty on August 31, 2010.
Thus, the decision of the Arbitration Court of Moscow virtually excludes any possibility to dispute the results of BTA Bank’s restructuring in the Russian Federation.