12:31 - 13.10.2023

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October 13, Fineko/abc.az. The rules of payment of creditors' claims of the payment organization and the organization of electronic money have been defined.

ABC.AZ reports that this is reflected in the proposed new Article 53-1 of the Law on Insolvency & Bankruptcy, discussed at today’s meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship.

According to the draft, the claims of the debtor payment organization and other creditors of the electronic money organization in accordance with the Law on Payment Services & Payment Systems cannot be directed to the funds of users of payment services located in these organizations and assets acquired at the expense of these finances. These funds are directed for extraordinary payment of the requirements of users of the payment service.