Baku, Azerbaijan, April 8
By Azad Hasanli - Trend:
The Baku branch of Bank Melli Iran intends to resolve a legal dispute with Baku’s executive power till the end of 2019, Trend reports referring to the bank’s report audited by Best Audit on April 8.
In 2014, one of Bank Melli Iran’s buildings was demolished at the request of the Baku Executive Power in connection with the laying of the foundation of a park in this territory. The bank estimates the cost of its office at nearly 9.3 million manats.
"Presently, the bank attempts to obtain compensation for the caused damage,” the report said. “However, so far the sides have not reached an agreement. Nevertheless, the bank’s management believes that the trial will end in its favour."
The case on compensation to the bank is being considered by Baku’s Administrative and Economic Court #1. The final decision on the payment of compensation is expected to be made this year.
Bank Melli Iran has been operating in Azerbaijan since 1993. The bank's assets reached 110.44 million manats, liabilities - 57.29 million manats in 2018. The authorized capital of the bank has reached 53 million manats.
(1.7 AZN = 1 USD on April 8)
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