Finance

Finance

Bank of Azerbaijan: â€œBankruptcy of bank does not give grounds to debtor evade paymentâ€

04 February 2016 21:32 (UTC +04:00)

Baku. Yegana Lachynzade- APA-Economics. The liquidator of Bank of Azerbaijan informs individuals and entities that have debt obligations to the bank.

By the decision of the Baku Administrative-Economic Court â„–1 on February 1, 2016 Bank of Azerbaijan OJSC declared bankrupt, started liquidation proceedings, as the Azerbaijani Deposit Insurance Fund was appointed liquidator of the bank.

Bank told APA-Economics that the liquidator of Bank of Azerbaijan informs individuals and entities that have debt obligations to the bank, in accordance with the 72 article of the Banking Law, only liquidator or authorized representative’s actions are legal. In addition, despite the suspension of the accrual of interest and other fees on bank liabilities continued accrual of interest and other fees to the bank's assets.

"With respect to natural and legal persons in arrears (loans) and do not perform timely payments in the process of liquidation of Bank of Azerbaijan OJSC, will be taken in accordance with the law. Bankruptcy of bank does not give grounds to debtor evade payment", the report said.

Persons who have debts to the bank may approach for information and the payment of debts to the Hasan Aliyev street 24.