Baku, Azerbaijan, Feb. 16
By Anvar Mammadov - Trend:
The hearings on Debutbank OJSC, declared bankrupt in December 2010, will be held in the Administrative-Economic Court #1 in Baku February 25, the statement published in the official press said Feb. 16.
The issue of approving the updated list of requirements of the bank's creditors, received and not received, in the fourth quarter of 2015, will be considered as part of the hearings.
The hearings will begin at 12:00 (UTC/GMT +4 hours) and will be chaired by Judge Bayramov.
The liquidator of the bank is AZE Financial Consulting Ltd.
The Central Bank of Azerbaijan (CBA) revoked the license of Debutbank OJSC Dec. 1, 2010.
This decision was made because the total capital of the bank didn't correspond to the CBA minimum requirement.
The bank couldn't fulfill its obligations to creditors and didn't manage its current activity prudentially.
Thus, some 11 banks are being liquidated in Azerbaijan. Currently 37 banks operate in Azerbaijan.