Court order to return BTA Bank’s shares of its Kyrgyz Subsidiary entered into legal force16.01.2013 18:40:24
Almaty, January 16, 2013 – BTA Bank JSC (the Bank) kindly informs that the order of Bishkek city court to return 71% shares (35.5 mln.units) in BTA Bank CJSC (Kyrgyz Republic) to the Bank entered into legal force. On January 15, 2013 the Interdistrict court of Bishkek sent copies of judicial acts to Registrum OOO under which title for the stake shall be re-registered to the name of BTA Bank (Kazakhstan).
As it has been reported earlier, on October 12, 2012 the Interdistrict Court of Bishkek granted claim filed by the Bank on invalidation of bids where 71% shares of BTA Bank CJSC were sold. According to the Court order the stake shall be returned to the Bank. On December 6, 2012 the appellate instance of Bishkek city court upheld the decree of the Interdisctrict court of Bishkek thus fully confirming conclusions of the first instance court on illegal nature of the bids.
The illegal bids after which BTA Bank (Kazakhstan) lost 35,5 mln.shares in its Subsidiary bank in Kyrgyzstan took place in 2009.
“We welcome the adopted judicial acts restoring rights of Kazakh BTA Bank for shares in its subsidiary in Kyrgyzstan. We are positive that work of the bank under control of its legal owners will enable it to reach new levels of development”, - said Mr. Viktor Romanyuk, Managing Director, Member of the Management Board of BTA Bank JSC.