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Freezing order lifted against Azerbaijani bank, as creditor swaps arbitration for bankruptcy claim

By Cosmo Sanderson

09 November 2017

Freezing order lifted against Azerbaijani bank, as creditor swaps arbitration for bankruptcy claim Baku, capital of Azerbaijan iStock.com/Madzia71

A New York court has vacated a freezing order attaching the funds of a now-bankrupt Azerbaijani bank pending an arbitration, after the claimant, a Bermuda-based investment company, swapped the case for a claim in the bank’s Baku-based insolvency proceedings.