BTA Bank AO : US Court Issued an Order on Permanent Injunctive Relief in The United States in Respect of BTA Bank’s Restructuring Proceedings

2008

2007

2006

2005

2004

2001

January

US Court Issued an Order on Permanent Injunctive Relief in The United States in Respect of BTA Bank's Restructuring Proceedings 08.01.2013

Almaty, 8 January 2013 - "BTA Bank" JSC (the "Bank") is pleased to announce that on 3 January 2013, the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") granted a permanent injunction against actions or proceedings commenced in the United States which violate the terms of the Restructuring Plan approved by the Bank's shareholders and Claimants and by the Specialised Financial Court of Almaty.

The Bankruptcy Court had previously issued an order on 16 August 2012 (the "Recognition Order") granting an application for recognition of the Bank's restructuring proceedings as a "foreign main proceeding" under chapter 15 of the United States Bankruptcy Code. The Recognition Order imposed a stay on, among other things, any proceedings against the Bank or against its property in the United States.

The injunction issued by the Bankruptcy Court on 3 January 2013 has made permanent the stay in relation to debts discharged by the Restructuring Plan and blocks any attempts to enforce such debts against the Bank or its property in the United States.

Although the permanent injunction prevents parties from taking action in the United States against the Bank in relation to obligations restructured pursuant to the Restructuring Plan, it does not prevent parties from enforcing in any appropriate forum rights granted pursuant to the Restructuring Plan.

In light of the permanent injunction and the permanent stay granted by the High Court of England and Wales on 19 December 2012, the Restructuring Plan has now obtained the permanent protection of the courts in both the United Kingdom and the United States with the result that actions inconsistent with the Restructuring Plan are now prohibited in both countries.

Terms used in this press release and defined in the Information Memorandum of the Bank dated 8 November 2012, as supplemented, are used in this press release as so defined.