Baku, Azerbaijan, Apr. 25
By Anvar Mammadov – Trend:
A creditors’ committee has been established for Azerbaijan’s Gandja Bank, which is being liquidated, the Azerbaijan Deposit Insurance Fund (ADIF) said in a message April 25.
According to the message, the first meeting of the committee will be held on May 5 at the following address: 260 Ataturk Avenue, Gandja Bank’s administrative building, Ganja city, Azerbaijan.
The committee consists of nine individuals, the National Fund for Entrepreneurship Support, the Azerbaijan Mortgage Fund, the Central Bank of Azerbaijan, the Ministry of Agriculture, Caspel telecommunications service provider and Ateshgah Life and Basak Inam insurance companies.
The Azerbaijani Central Bank made a decision to revoke Gandja Bank’s license on January 22, 2016. Gandja Bank was declared bankrupt upon the decision of the Baku Administrative Economic Court #1 dated February 15, 2016.
Gandja Bank has operated in Azerbaijan since 1994.