The Dushanbe Economic Court extended the liquidation period of “Tajprombank” for six months – from September 1 this year to March 1 next year, “Asia-Plus” was informed in this court.
The court's decision was made on September 5 on the basis of the application of the National Bank of Tajikistan, which remains one of the main creditors of the liquidated bank.
Also, the liquidator was replaced by a court decision – Shodmon Kholov was appointed instead of Firuz Sharipov.
Earlier, on August 7, the chairman of the Supreme Economic Court of Tajikistan, Rustam Mirzozoda, said at a press conference that "on the basis of the order of the Economic Court of Dushanbe city, the bankruptcy case of “Tajprombank” has been discontinued since August 1, 2023.
A week later, the NBT management informed “Asia-Plus” that it had appealed to the judicial authorities about the resumption of the liquidation process of this organization.
The regulator noted that “Tajprombank” is obliged to satisfy the remaining obligations to its creditors.
The NBT stressed that this institution has assets at the expense of which it should return depositors' funds.
According to the Dushanbe Economic Court, the process of liquidation of “Tajprombank” has been going on for more than 7 years (since March 3, 2017) and during this period 5,726 people received more than 148 million somoni of their savings.
However, about 170 depositors still cannot receive their funds, the total amount of which is 26.6 million somoni.
The license of “Tajprombank” for banking operations was revoked at the end of February 2017, and in early March of that year, on the basis of a court decision, the process of compulsory liquidation of the bank began.
The initial term of the bankruptcy process (Article 15 of the Law "On Liquidation of Credit Institutions") "may not exceed two calendar years, and if necessary, this period may be extended by a court ruling at the request of the special administrator for another two years."
The proceedings are terminated by a court decision in case of the sale of all assets of the liquidated bank and the payment of proceeds to creditors.
This law allows creditors (except persons related to the bank) to resume the liquidation process within 12 months after its completion by applying to the court if any assets of the bank have been discovered.
Simply put, the liquidation of a bank can endure until the end, as long as it has at least some assets, and not all creditors have returned their money.
