Next hearings on claims of creditors of liquidated Demirbank to be held on July 6
Baku, Azerbaijan, July 2
By Ilkin Shafiyev - Trend:
The next hearings on the list of claims of creditors of the liquidated Demirbank will be held in the Baku Court of Appeal at 14:30 (local time, GMT+4) on July 6, 2018, the Azerbaijan Deposit Insurance Fund, which is engaged in the liquidation of the bank, said in a statement.
The Fund requests creditors to participate in the court proceedings by submitting the evidences of their claims.
Address: Baku, Z.Khalilov Street, 540th quarter.
Phone: (99412) 538-16-08, 538-19-02
Fax: (99412) 510-53-48
Demirbank's license was revoked on December 23, 2017. The Financial Markets Supervision Chamber of Azerbaijan stated that, the license was terminated due to the non-compliance of the bank's overall capital with the minimum requirement established for banks, and the ratio of the overall capital adequacy is below three percent stipulated in the legislation. The bank also lacked resources for discharge of its obligations to creditors.
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