The case of bankruptcy of JSC Investment Company Westmark Financial Leasing has been sent for consideration to the Baku Administrative-Economic Court №1.
According to the report of the court, at this stage, the company will be announced bankrupt by the judge Vusala Bahyshova. Paperwork on the suit on bankruptcy and insolvency will begin on November 18 at the preliminary hearing.
Recall the Financial Markets Supervision House on the fact of judicial decisions this year declared bankrupt 10 commercial banks, 3 insurance companies, and the same number of non commercial organizations with the financial sector "pressed down" by about 30%. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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