12:37 - 27.07.2023

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July 27, Fineko/abc.az. A decision has been made on the violation of obligations on the mortgage loan of a bank in the process of its liquidation.

ABC.AZ reports that the Constitutional Court, based on the appeal of the Baku Court of Appeal, considered the constitutional case on the interpretation of Articles 81.1 and 81.3 of the Law on Banks in connection with Articles 131 and 132 of the Administrative Procedure Code.

On the basis of the adopted decision, Article 81 of the Law on Banks regulates the procedure for the sale of assets that are collateral for approved creditors' claims to the bank and collateral for the bank's own claims. From angle of the Law on Banks, as well as the legal nature of the relevant articles of the APC, the creditor's claim for a violated credit obligation of a bank in the process of liquidation, in connection with the direction of foreclosure on a mortgage (pledge) owned by third parties, should be considered not in the order of administrative proceedings, but in the order of civil (claim) production.

The decision comes into force from the date of its publication, is final and cannot be canceled, changed or officially interpreted by any body or person.