Azerbaijan Appoints Liquidator For Gunay Insurance Ojsc (Update)
(MENAFN- Trend News Agency) Details added: first version posted on 10:16
BAKU, Azerbaijan, July 3. Liquidation
commission for Azerbaijan's Gunay Insurance OJSC has been
established, trend reports.
In this regard, the commission's chairman, lawyer Akram Hasanov
appealed to the company's clients and creditors.
"The commission will complete the liquidation process of Gunay
Insurance within one year. All obligations to creditors will be
fully and timely implemented. There are enough funds for this,"
Hasanov said. "It means that Gunay Insurance is not bankrupt
(otherwise voluntary liquidation would be impossible). So, liquid
assets companies amount to 9.31 million manat ($5.48 million), and
liabilities - 7.5 million manat ($4.4 million)."
Thus, according to him, the total market value of assets exceeds
its liabilities by 1.81 million manat ($1.06 million).
"Therefore, there is no reason for concern in terms of the
interests of clients and creditors. The liquidation process will be
carried out transparently and in accordance with the law," the
commission's chairman added.
Previously, on June 24, the Central Bank of Azerbaijan revoked
the license of Gunay Insurance OJSC on the basis of a voluntary
appeal in accordance with the law "On insurance activities".
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