Alliance Bank files for US bankruptcy

Copying and distributing are prohibited without permission of the publisher

18 February 2010

To protect its debt restructuring plan, Kazakhstan’s Alliance Bank has filed for chapter 15 bankruptcy to prevent US lawsuits.

Kazakhstan’s Alliance Bank (Alliance) has filed for chapter 15 bankruptcy to secure US court protection from US lawsuits or creditors as it implements its $5 billion debt restructuring.

Alliance, is Kazakh’s sixth largest bank and is owned by the state-backed Samruk-Kazyna National Welfare Fund.

Alliance...

You must be logged in to view this page. If you are already a registered user please log in. Alternatively, you can request a free trial or subscribe.

Already have an account?

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Free trial

Taking a free trial will give you access to the current issue for two weeks (excluding some surveys and articles). Start your free trial today.

Poll

Credit insurers have withstood the crisis admirably settling a high number of claims during 2009. If you are actively involved in trade transactions what percentage of your deal book now enjoys some political or credit risk cover from private insurers?

75% to 100%

33%

50% to 75%

30%

25% to 50%

25% or less

10%

I don’t use private credit insurers

18%