Legal News

Court lifts moratorium in Azeri bank case, but stays lifting (Bakhshiyeva v Sberbank of Russia and others)

Published on: 27 April 2018

Table of contents

  • What are the practical implications of the judgment?
  • What was the background?
  • What did the court decide?

Article summary

Restructuring & Insolvency analysis: Following a decision to refuse an application by the International Bank of Azerbaijan (the applicant) to extend a moratorium preventing creditors from pursuing any action against it without the court’s permission, the court granted the respondents’ cross-applications to lift the moratorium, but stayed the lifting pending the applicant’s appeal against the decision to refuse the extension of the moratorium. Justin Michaelson, partner at Fried, Frank, Harris, Shriver & Jacobson, and Simon Camilleri, associate, examine the judgment.

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