Bank Standard’s Creditors Committee holds meeting in Baku

Baku. 29 January. REPORT.AZ/ The next meeting of the Creditors Committee of Bank Standard, which is in the process of liquidation was held in Baku.

Report informs, the meeting was held in the administrative building of Azerbaijan Deposit Insurance Fund (ADIF), Bank's liquidator located in Baku, Khatai district, Babek Avenue, 16.

The meeting was attended by Chairman of the Creditors Committee of Bank Standard, lawyer Akram Hasanov, about 50 creditors of the Bank, as well as ADIF employees. Hasanov, who opened the meeting, said: "Vugar Abdullayev, the Deputy Executive Director of the Fund, promised to provide information about the most recent situation about the Bank Standard and its assets. But he did not keep his promise. Also, the Bank's following liquidation plan is not ready for approval."

Hasanov also added that a day before devaluation of manat which occurred on February 21, 2015, the sale of dollar currency was carried out at Bank Standard CJSC.

"The Bank's liquidation plan states that Bank Standard has lost 197 million AZN from the devaluation of manat. The loss was most likely caused by those who bought dollar a day before devaluation. I sent enquiry to the liquidator - the Azerbaijani Deposit Insurance Fund, to provide a list of people who bought those dollars, but it was not obeyed,” said Hasanov.