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--
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The closure of Azerbaijan's land borders was discussed during the parliamentary session on November 25. While the government’s decision cites the coronavirus pandemic as the main reason—despite the World Health Organization declaring its end last year—Zahid Oruj, Chair of the Human Rights Committee in the Milli Majlis, pointed to other factors. He stated, "Opening the borders could result in an influx of hundreds of thousands of non-Azerbaijani refugees due to the Russia-Ukraine war. Additionally, in Iran, many are prepared to cross into Azerbaijan to safeguard their lives and assets amid military strikes. Such waves of refugees could lead to humanitarian, social, and cultural clashes that may threaten political stability."
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On Tuesday, the General Prosecutor's Office announced the initiation of new criminal cases against agricultural product exporters who allegedly concealed their earnings abroad. Specifically, the Sumgayit City Prosecutor's Office has opened a criminal case under Articles 208.2.1 and 208.2.2 (failure to return foreign currency to the country in large amounts by prior agreement of a group of individuals) and Article 308.2 (abuse of office causing serious consequences) against officials of the company "SOİL BOONS" LLC – Jahangir Aliyev, Elyar Gadzhiev, Mehman Mirzamedev, Saleh Gabilov, and Aly Aliyev.
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Rains will continue in Baku and Absheron on 27 November, forecasters said. In places, precipitation will be intense with thunderstorms. Moderate north-west wind.
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On Tuesday, rainy weather with thunderstorms and moderate northwest wind is expected in the Baku, according to meteorologists. The rainy weather will continue untill Wednesday evening. The air temperature at night will be +7 to +10°C, and during the day, +11 to +13°C. The humidity will be 80-90% at night and 70-80% during the day. Rain with thunderstorms will also affect other parts of the country. Snow is expected in mountainous areas. There will be fog in places, with westerly winds.
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