Court Confirms Completion of BTA Bank Restructuring
OREANDA-NEWS. January 10, 2013. “BTA Bank” JSC (the “Bank”) is delighted to announce that the Specialised Financial Court of Almaty (the “Court”) has today issued an order terminating the Restructuring relating to USD 11.1 billion of the Bank’s financial indebtedness due to the implementation by the Bank of all actions contemplated by the Restructuring Plan.
As the Bank has announced before, the Restructuring Plan was approved by the Bank’s shareholders at an extraordinary general meeting held on 3 December 2012 (by a majority of 99.4 per cent., including the approval of 89.5 per cent. of the GDRs voted at the meeting), by its creditors at the Claimants’ Meeting held on 5 December 2012 (by a majority of 93.8 per cent.) and by the Court on 13 December 2012. The Restructuring Plan was successfully implemented by the Bank on 24 December 2012.
As a result of the Restructuring the Bank’s financial indebtedness subject to it has been reduced from approximately USD 11.1 billion. to approximately USD 3.3 billion.
Terms used in this press release and defined in the Information Memorandum of the Bank dated 8 November 2012, as supplemented, are used in this press release as so defined.
Комментарии