News and analysis from Kazakhstan - Mar 15th 2010
business and economy
Alliance to hold creditors meeting in December to approve restructuring plan
(SRI) - Alliance Bank announced on Monday it would hold a creditors meeting on December 15 in Almaty to approve the bank’s debt restructuring plan.
The restructuring plan requires the approval of creditors holding two-thirds of Alliance’s debt which is subject to restructuring.
Alliance will also hold a separate meeting on November 27 with the holders of Eurobonds issued through ALB Finance BV (100% subsidiary of the Bank) to reach an approval of the debt restructuring plan.
In addition, Alliance creditors who believe that their debt claims constitute trade finance debt may submit their claims to Alliance’s adjudicator Watson, Farley & Williams
LLP by November 26.
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