BAKU, Azerbaijan, July 3. Liquidation commission for Azerbaijan's Gunay Insurance OJSC has been established, Trend reports.
In this regard, the commission's chairman, lawyer Akram Hasanov appealed to the company's clients and creditors.
"The commission will complete the liquidation process of Gunay Insurance within one year. All obligations to creditors will be fully and timely implemented. There are enough funds for this," Hasanov said. "It means that Gunay Insurance is not bankrupt (otherwise voluntary liquidation would be impossible). So, liquid assets companies amount to 9.31 million manat ($5.48 million), and liabilities - 7.5 million manat ($4.4 million)."
Thus, according to him, the total market value of assets exceeds its liabilities by 1.81 million manat ($1.06 million).
"Therefore, there is no reason for concern in terms of the interests of clients and creditors. The liquidation process will be carried out transparently and in accordance with the law," the commission's chairman added.
Previously, on June 24, the Central Bank of Azerbaijan revoked the license of Gunay Insurance OJSC on the basis of a voluntary appeal in accordance with the law "On insurance activities".