Baku. Musa Ahmedov - APA-Economics. Evrobank, whose license was revoked and declared bankrupt in Azerbaijan, appealed to the court.
Evrobank told APA-Economics that the bank filed a lawsuit regarding restoration of the license.
Baku Administrative Economic Court No.1 stated that judge Tahira Asadova will preside over the hearing on the case. The date of the hearing isn’t known yet.
Such a case has been observed in Azerbaijan previously. Kovser Bank, whose license was revoked by the CBA, appealed to the court and the court has restored the bank’s license.
According to chapters #9-10 of the Azerbaijani law “On banks”, there are three types of liquidation of banks – voluntary liquidation (on the basis of the decision of general meeting of shareholders), forced liquidation (Central bank applies to court with request on forced liquidation of the bank) and liquidation as a result of bankruptcy of banks declared by the court.
Note that, on August 3, CBA appealed to the court to declare Evrobank bankrupt. The hearing presided over by judge Elchin Mammadov was held on August 10. Evrobank was declared bankrupt under the decision # 2-1 (81) -3855/2015 of Baku Administrative Economic Court No.1, dated August 10, 2015.
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