“Zaminbank” declared bankrupt

Baku. 4 October. REPORT.AZ/ “Zaminbank” OJSC in the process of liquidation has been declared as bankrupt according to court decision.

Report informs, said at a press conference today Azad Javadov, Executive Director of Azerbaijan Deposit Insurance Fond (ADIF), which acts also as a liquidator of the bank. 

According to him, the bank has offered to the other shareholders of “Başak Inam Sığorta” that has 1.7 million AZN shares in the charter capital of the bank, to compensate the same amount in the account of “Zaminbank” before the bankruptcy.

A.Javadov said: “We declared bank as bankrupt for accelerating its responsibilities and the situation changed. Now the insurance company should forcibly pay the amount to ADIF.”