Moscow / 14.05.18 / Turan: The Moscow Arbitration Court, at the request of Savings Bank (Sberbank), has arrested 41.6% of the share in the Russian branch of the International Bank of Azerbaijan(IBA), Interfax reported. In the spring of 2017 the IBA announced the beginning of a restructuring of its debt obligations. Sberbank in April this year, appealed to the High Court of Justice of England and Wales with a lawsuit against the Azerbaijani bank on recovery of debt under a loan agreement of $ 21.3 million.
The materials of the Russian court indicate that the Federal Bankruptcy Court of the United States of New York has established a moratorium on IBA assets located in the United States, and also imposed a injunction to initiate or spook the enforcement acts in relation to obligations included in the restructuring plan. This means that any action against the IBA or its property will not yield results. In addition, in March this year, the IBA decided to liquidate the Russian IBA-Moscow bank. 41.6% of the share of IBA-Moscow was valued at 1.317 billion rubles. The decision of the court is subject to immediate execution.-0--
Social
-
Ahead of the COP29 climate conference, scheduled to be held in Baku from November 11-22, 160 Chinese-manufactured electric buses have been delivered to the city. According to official information, a bus depot equipped with all necessary devices and equipment for these buses has also been established. On November 2, President Ilham Aliyev inspected this depot.
-
On November 2-3, border guards at the "Geytapa" border unit, located on the Azerbaijan-Iran border, discovered and seized 16.2 kg of drugs, including marijuana, opium, and heroin. Operational search activities are ongoing regarding these incidents, the State Border Service of Azerbaijan reported on November 4.
-
On Tuesday, precipitation is expected in the capital is expected; the southeast wind change to a strong northwestern direction later in the day.
-
Azerbaijan’s State Traffic Police Department has issued an appeal to the public, urging cooperation in managing traffic congestion as the country prepares to host COP29, a major climate summit drawing international attention to Baku. Starting from early November, the capital will begin welcoming global delegates and officials for the conference.
Leave a review