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BTA Bank restructuring plan approved by claimants at Dec. 5 meeting
By Caroline Salls
Pittsburgh, Dec. 7 - Claimants approved BTA Bank JSC's restructuring plan related to KZT 1,611,000,000 of designated financial debt claims at a Dec. 5 meeting, according to a news release.
Specifically, claimants holding KZT 1,511,000,000 billion, or 93.8%, of the debt approved the plan.
As previously reported, the bank's shareholders approved the plan by a majority of 99.4% on Dec. 3.
BTA Bank is based in Almaty, Kazakhstan. The company filed its Chapter 15 bankruptcy case on Feb. 4, 2010 in the U.S. Bankruptcy Court for the Southern District of New York under case number 10-10638.
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