OREANDA-NEWS. June 23, 2010. BTA Bank reported that the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Markets and Financial Organizations (FMSA) by Resolution № 83 has approved the proposed Restructuring Plan of BTA Bank. Previously, the Plan was approved by an overwhelming majority of the Bank’s creditors at the Claimants’ Meeting.

The Special financial court of Almaty (the Court) should make a decision on final approval of BTA Bank’s Restructuring Plan. After receiving approval from the Court in regard to Restructuring Plan, BTA Bank will begin to execute the procedures provided by the Restructuring Plan, including cancellation of previous bond issues of the Bank, new debt instruments issue, cash distribution among the creditors, as well as the placement of the securities on the Kazakhstan Stock Exchange and other trading floors defined in the Plan.

The Restructuring Plan of BTA Bank’s financial indebtedness in the amount of 2,442 billion tenge (USD 16, 65 billion dollars) was approved by creditors, possessing of the Bank's liabilities of USD  2 247.4 billion tenge, which is 92.03% out of total financial indebtedness of the Bank.