BTA Bank Restructuring Process was recognized in Kyrgyzstan28.11.2012
Almaty, November 28, 2012 – Today BTA Bank (the Bank) announced that the restructuring process initiated by the Bank in the Specialized Financial Court of Almaty was recognized in Kyrgyzstan.
The recognition was received on November 15, 2012 in accordance with the Decree of the Interdistrict Court of Bishkek and provides for the following activities in the Kyrgyz Republic:
- Suspension of court orders under Bank’s liabilities to be restructured;
- Suspension of performance of creditor’s demands on such liabilities;
- Prohibition of foreclosure of Bank’s assets in the Kyrgyz Republic.
It shall be noted that this recognition is the part of the ongoing restructuring process of the Bank and the Kyrgyz Court Decree followed granting of Bank’s applications on recognition of the restructuring in the Great Britain, USA, Ukraine and Russia which were received on July 11, August 16, August 31 and October 15, correspondingly.