Conflict between executive power and bank - the case sent to court


April 8, Fineko/abc.az. In compliance with the order of the Baku City Executive Authority from 18 November 2014 on the construction of a new park, a building worth AZN 9.295 million belonging to the Baku branch of Bank Melli Iran was demolished.

This fact led to the appearance of an amount that exceeds the size of ordinary trade.

This is stated in the bank's financial statements for 2020. The report says that the parties cannot reach an agreement on compensation.

"Despite this, the bank's management believes that their terms will be accepted. The bank is currently taking measures to obtain compensation for the damage caused. This issue is being considered in the Baku Administrative & Economic Court #1," it is informed.