Creditors Committee requests comprehensive data on Bank Standard’s property

Baku. 24 May. REPORT.AZ/ Creditors Committee of the under-liquidation "Bank Standard" CJSC has today convened for next meeting.

Report informs, the meeting has been arranged in the office of bank’s liquidator - Azerbaijan Deposit Insurance Fund (ADIF) - at 16 Babek avenue, Khatai district, Baku city.

About 30 creditors of Bank Standard (12 of them are members of Creditors Committee), as well as ADIF staff, including CEO Azad Javadov participate at the meeting. The event is chaired by the head of the committee Akram Hasanov.

The chairman firstly told that ADIF has received a request from the creditors for comprehensive information on Bank Standard’s property, but ADIF provided that information in generalized form. Moreover, ADIF also hasn’t provided the evaluation prepared by KPMG audit company to the creditors.

In addition, according to him, Bank Standard has approximately 33 immovable properties, 20 of which are under pledge in Central Bank of Azerbaijan: “These properties have been pledged for more than AZN 154 mln attracted from the CBA. The bank probably has some other properties (computers and etc.). But there is no information available on those inventories”.

The meeting continues.