{"id":189140,"date":"2018-03-16T20:03:24","date_gmt":"2018-03-16T20:03:24","guid":{"rendered":"https:\/\/www.meydan.tv\/article\/iba-to-close-russian-and-georgian-subsidiaries\/"},"modified":"2018-03-16T20:03:24","modified_gmt":"2018-03-16T20:03:24","slug":"iba-to-close-russian-and-georgian-subsidiaries","status":"publish","type":"post","link":"https:\/\/www.meydan.tv\/en\/article\/iba-to-close-russian-and-georgian-subsidiaries\/","title":{"rendered":"IBA to close Russian and Georgian subsidiaries"},"content":{"rendered":"
\n \"International
\n International Bank of Azerbaijan
\n <\/figcaption><\/figure>\n

\n The International Bank of Azerbaijan (IBA)
\n
\n announced
\n <\/a>
\n \u00a0a decision to close its Russian and Georgian subsidiaries, IBA Moscow and IBA Georgia.\n<\/p>\n

\n Chairman of the Board of the IBA, Abbas Ibrahimov, said that the decision had been made at a shareholder meeting on 14 March, \u201ctaking into account the economic efficiency\u201d of the foreign subsidiaries. According to the official announcement, the bank will meet all of its obligations to clients.\n<\/p>\n

\n Last year, the IBA filed for
\n
\n bankruptcy
\n <\/a>
\n in New York, seeking the protections offered by US bankruptcy law as the bank restructured $3.3 billion in debt. The IBA was sued in the US by a group of creditors over the debt restructuring, but that lawsuit was
\n
\n rejected
\n <\/a>
\n by the court.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders decided the subsidiaries were no longer economically efficient<\/p>\n","protected":false},"author":11,"featured_media":87374,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","footnotes":""},"categories":[48],"tags":[],"class_list":["post-189140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","infinite-scroll-item","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"acf":[],"yoast_head":"\nIBA to close Russian and Georgian subsidiaries - MEYDAN.TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.meydan.tv\/en\/article\/iba-to-close-russian-and-georgian-subsidiaries\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IBA to close Russian and Georgian subsidiaries - 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