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Creditors’ committee created for Azerbaijan’s Bank Standard

Business Materials 24 April 2017 20:33 (UTC +04:00)
A creditors’ committee has been established for Bank Standard, which is being liquidated.
Creditors’ committee created for Azerbaijan’s Bank Standard

Baku, Azerbaijan, Apr. 24

By Azad Hasanli – Trend:

A creditors’ committee has been established for Bank Standard, which is being liquidated, the Azerbaijan Deposit Insurance Fund (ADIF) said in a message April 24.

According to the message, the first meeting of the committee will be held at the ADIF office on April 28.

The committee consists of nine individuals, the National Fund for Entrepreneurship Support, the Khazar University, the Center of Azerbaijan’s Youth Rights Protection, Azercell, SOCAR Cape LLC, SOCAR Marketing and Operations Department, Standard Insurance, GESCO Group, Unileasing, Qala Life and FINCA Azerbaijan.

Bank Standard’s license was revoked on October 1, 2016 and the bank was declared bankrupt on October 4.

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