Restructuring-SIEC Approval of Restructuring Plan
OREANDA-NEWS. JSC Astana Finance (the "Company") is pleased to announce that, following the approval of the Restructuring Plan by more than two-thirds (by value) of Claimants at the New Claimants' Meeting held on 21 April 2015, the NBK and the SIEC have approved the Restructuring Plan on 24 April 2015 and 27 April 2015, respectively. The order of the SIEC approving the Restructuring Plan is referred to herein as the "Order".
Under Article 344 of the Kazakhstani Civil Procedure Code, parties whose interests are affected by the Order ("interested persons") can challenge the Order by sending a complaint to the SIEC to be received no later than 15 May 2015. The complaint should indicate: (i) the name of the court the decision of which is being challenged, (ii) the name of the person challenging the Order, (iii) the details of the Order (i.e., Order of the Specialised Inter-District Economic Court of Almaty no. 2-21/2011 dated 27 April 2015), (iv) a description of the challenge to the proceedings, (v) the grounds for appealing the Order, including references to any applicable laws, regulations and relevant documentation, (vi) an indication of the result that the interested person wants to achieve (i.e., indication of any specific parts of the proceedings that require amendment), (vii) a list of any documents attached to the complaint, and (viii) the date the complaint is signed and the signature of the person bringing the challenge (where such person is acting under power of attorney, a copy of such power of attorney or other authority giving the power to make the challenge on behalf of the relevant person should be included). All Claimants are deemed to be interested persons for such purposes. If the Order is challenged, the SIEC will consider the validity and legality of the Order and decide whether to uphold or overturn it. If no interested person challenges the Order, or where following a challenge by an interested person the Order is upheld, the Order will become final and effective.
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