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English Court lifts moratorium on claims against Azeri bank – but stays creditors from enforcing judgments

By Jessica McKay

12 April 2018

English Court lifts moratorium on claims against Azeri bank – but stays creditors from enforcing judgments

Baku, Azerbaijan iStock.com/syolacan

An English court has agreed to lift a moratorium that has prevented creditors of the restructured International Bank of Azerbaijan from enforcing their contractual rights in the UK, provided they devise appropriate undertakings to ensure a pending appeal challenging the Gibbs rule is not rendered “nugatory”.