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BTA bank shareholders sue Kazakhstan for $3 billion

Business Materials 30 April 2009 13:28 (UTC +04:00)

Shareholders of Kazakhstan's largest bank BTA, nationalised in February, have sued the government for $3 billion, BTA Chief Executive Anvar Saidenov said on Thursday.

Saidenov told reporters there were two lawsuits for $1.5 billion each, Reuters reported.

"The shareholders think that damages they incurred... (due to the nationalisation) are $3 billion," he said.

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