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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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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