Kazakhstan

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Kazakhstan President Nazarbayev Suggests Introducing Individual Bankruptcy Procedures

Individuals in Kazakhstan unable to pay off their loans will be declared bankrupts, the country’s Pesident Nursultan Nazarbayev said when speaking at the extended sitting of the Government Tengrinews.kz reported today. “Borrowers must pay off their loans ...

Daily Headline - abi_admin - 08/06/2014 - 13:32 - 0 comments

Kazakh Alliance Bank Debt Restructuring Talks Break Down

Talks with creditors of Kazakhstan's wealth fund-controlled Alliance Bank have broken down without agreement, the bank's chief executive said on Thursday. "Negotiations have broken down, no agreement was reached," Timur Isatayev told ...

Daily Headline - global.abi.org - 05/29/2014 - 23:03 - 0 comments

Kazakhstan's Alliance Bank Maps Out Debt Restructuring Plan

Kazakhstan's Alliance Bank has set out terms for a second debt restructuring in the wake of the global financial crisis, potentially paving the way for its acquisition by Kazakh billionaire Bolat Utemuratov. Alliance is 67 percent owned by local sov ...

Daily Headline - global.abi.org - 01/23/2014 - 22:04 - 0 comments

Kazakh Alliance Bond Up On Hope Of Better Debt Restructuring Terms

dollar, according to Thomson Reuters data. The bond has slumped from a high of 93 cents set last May, due ...

Daily Headline - global.abi.org - 01/20/2014 - 23:00 - 0 comments

Kazakhstan's Alliance Bank To Discuss Debt Restructuring Dec. 13

Kazakhstan's Alliance Bank, controlled by the oil-rich nation's sovereign wealth fund, will discuss the restructuring of its debt at a creditor meeting in London this week, a source at the bank said on Tuesday, Reuters reported. Alliance, the n ...

Daily Headline - global.abi.org - 12/11/2013 - 00:31 - 0 comments

Kazakh Bank BTA Wins Shareholder Vote For Debt Deal

BTA, Kazakhstan's third-largest bank by assets, has won a vote by its shareholders, dominated by the state sovereign wealth fund, to restructure its $11.2 billion of debt, the second such agreement with creditors in as many years, Reuters reported. ...

Daily Headline - global.abi.org - 12/04/2012 - 22:24 - 0 comments

Kazakh Audit Shows State Failures in BTA Bank’s Takeover

BTA Bank (BTA) exercised insufficient control and arranged payments to creditors in violation of a moratorium during its debt restructuring two years ago, according to a Kazakh government audit obtained by Bloomberg. The inspection, completed in February ...

Daily Headline - global.abi.org - 11/08/2012 - 23:38 - 0 comments

In re Astana-Finance

Mon, 10/01/2012 U.S. Bankruptcy Court, Southern District of New York (Manhattan) ...

Chapter 15 New Filing - abi_admin - 10/04/2012 - 19:49 - 0 comments - 0 attachments

Kazakh BTA Bank Agrees $11.2 Billion Debt Restructuring

Kazakh bank BTA has agreed a preliminary term sheet with creditors to restructure $11.2 billion of debt, the bank said on Wednesday, triggering a rally in its heavily-discounted bonds. Kazakh sovereign wealth fund Samruk-Kazyna, the bank's majority ...

Daily Headline - global.abi.org - 10/03/2012 - 22:46 - 0 comments

BTA Bank Says Restructuring Process Recognized by Ukraine Court

BTA Bank, the Kazakh lender seeking to overhaul its debt for a second time, said a Ukrainian court recognized the restructuring proceedings and extended protection over its assets, Bloomberg reported. “This recognition is a part of the bank’s current res ...

Daily Headline - global.abi.org - 09/19/2012 - 21:45 - 0 comments

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