“Azerbaijan Aluminium” Open Joint Stock Company is being liquidated.
Modern.az reports that this is reflected in President Ilham Aliyev's Order "On a number of measures to ensure the development of the mining (metal ores) and metallurgy industry in the Republic of Azerbaijan".
According to the Order, the assets of “Azerbaijan Aluminium” Open Joint Stock Company will be transferred to the balance sheet of “Azeraluminium” Limited Liability Company.
Also, “Azerbaijan Aluminium” Open Joint Stock Company must take necessary measures regarding the write-off of its creditor debts, as well as debts to state organizations for which a 25-year deferral was granted for payment based on Order No. 678 of the President of the Republic of Azerbaijan dated March 31, 2001, "On the Approval of the Agreement on the Right to Manage 'Azerbaijan Aluminium' Joint Stock Company", and debts incurred to the Guarantee Fund for State Debt and Guarantee Obligations; and must take necessary measures regarding the termination of tax obligations in accordance with the Tax Code.
The Ministry of Finance, taking into account the liquidation of “Azerbaijan Aluminium” Open Joint Stock Company, will ensure the repayment of the confirmed debts of “Azerbaijan Aluminium” Open Joint Stock Company to non-state organizations from the funds of the state budget of the Republic of Azerbaijan or other financial sources provided for by law, within one month from the date of submission of relevant supporting documents.
