Decision to File a Proposal to Open Insolvency Proceedings over Komercijalna banka d.d. Tuzla, in liquidation
NOTIFICATION
On a proposal of liquidation trustee of Komercijalna banka d.d. Tuzla, in liquidation (hereinafter: Bank), the Federation of Bosnia and Herzegovina Banking Agency passed a Decision to File a Proposal to Open Insolvency Proceedings over Komercijalna banka d.d. Tuzla, in liquidation.
It was found through a review of the liquidation trustee’s proposal that the conditions were met to initiate a proposal to open insolvency proceedings as defined by the provisions of the Banking Law of the Federation of BIH and the Law on Insolvency Proceedings of the Federation of BIH.
Acknowledging the fact that on the initiation of the liquidation proceedings the Bank was stripped of its license to operate, the provisions of Article 232(2) of the Banking Law, which provides for a requirement for the Agency to, with the Decision to File a Proposal to Open Insolvency Proceedings, specify the effects from Article 231 of the Banking Law, it was found that this was not applicable in this specific case, considering that the effects had already occurred with the opening of the liquidation proceedings and stripping the Bank of its operation license.
