Dentons – a TEAS member company – has issued an important client alert reflecting the latest changes in Azerbaijani legislation. This covers new rulings regarding banking, telecommunications and licensing. The banking section relates to significant changes regarding the temporary administration and financial rehabilitation of troubled banks, including disposition of an insolvent bank, voluntary debt restructuring; the role of the Azerbaijan Deposit Insurance Fund (ADIF) as the liquidator; and the personal liability of bank administrators. The telecommunications section covers the registration obligations of providers, and this is also related to the amendments to licenses and permits pertaining to mobile communications. Go to http://bit.ly/dentonsbanksandit to read the full alert.

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