Bank Standard Creditors Committee`s complaint satisfied partially


July 3, Fineko/abc.az. The Supreme Court, chaired by judge Nigar Rasulbekova, has partially satisfied the complaint of the Creditors' Committee of Bank Standard, which is in the process of liquidation.

According to expert Ekrem Hasanov, the definition of the Baku Court of Appeal was partially canceled in terms of approval of paragraphs 3.8, 4.1, 4.2 of the revised liquidation plan for the 1st quarter of 2018 and paragraphs 4.1, 4.2 of the revised liquidation plan for the 2nd quarter of 2018.

"The case was sent to the Court of Appeal for reconsideration in this part. This is the first such event in the history of our country. The complaints I filed previously in connection with the plans of liquidation were not approved. Despite the fact that this is already the 2nd half of 2019, Bank Standard does not have an approved liquidation plan for the past year," Hasanov said.

According to the expert, the Supreme Court did not fully satisfy the complaint, but took into account a number of important points.

"Most importantly, the Supreme Court says that the Court of Appeal "should reevaluate the costs and expenses incurred by the temporary administrator and liquidator in the implementation of bankruptcy procedures, including their wages, the costs and obligations of the liquidator in implementation of liquidation of the Bank and the reassessment of the question of positive net assets". The plan says that the Bank has net assets, and that a bankrupt bank cannot have net assets. The Supreme Court also drew attention to this," the expert stressed.