Azeri bank applies to extend restructuring process after UK court declines to prolong moratorium

Azeri bank applies to extend restructuring process after UK court declines to prolong moratorium

Azerbaijan’s biggest bank has asked an Azeri court to extend its restructuring proceedings, a day after a UK court refused to grant its foreign representative a permanent moratorium on creditor action in England and Wales; meanwhile, a US court has done just what the UK court wouldn’t, signing off on the bank’s US$3 billion reorganisation plan.

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