BTA Bank (Kazakhstan) informed of Goldman Sachs (Russia) abandoning its suit against the bank and its subsidiary TuranAlem Finance
20.09.10 14:06
/KASE, September 20, 10/ - BTA Bank (Almaty), securities of which are listed on
Kazakhstan Stock Exchange (KASE), provided to KASE a press-release of
September 20, 2010 to the following effect:
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On September 15, 2010 the Russian company Goldman Sachs abandoned its
lawsuit against BTA Bank and its subsidiary TuranAlem Finance concerning
financial liabilities totaling to RUB3.4 bn.
Reason for this decision was BTA Bank satisfying claims from Goldman Sachs
(Russia), according to BTA Bank restructuring plan. For repayment of existing
debts, BTA Bank paid funds to Goldman Sachs (Russia), and also provided BTA
Bank shares and newly issued bonds. The Moscow Arbitral court acknowledged
Goldman Sachs (Russia) abandonment of the lawsuit and dismissed the case.
contacts for mass-media:
tel. +7 727 312 24 26, 261 89 28
e-mail: pr@bta.kz
www.bta.kz
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[2010-09-20]