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Press release

WARNING TO POTENTIAL BUYERS OF MOLDOVA-AGROINDBANK SHARES

19 july, 2017
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The media published statements of the President of the National Bank of Moldova, Mr. Sergiu Cioclea, that the shares of BC "Moldova-Agroindbank" SA, which were illegally confiscated from their owners on the basis of the NBM decision No. 43 from 02/03/2016, may be sold before the end of 2017. He also said that potential buyers of these shares are awaiting a final decision by the Constitutional Court of the Republic of Moldova at the request of a group of Moldovan deputies about the constitutionality of certain provisions of the Law on the National Bank of Moldova.

The lawyers association "Vyacheslav Lych and Partners" as the representative in law of injured shareholders of Moldova-Agroindbank, once again warns potential buyers of shares about the following:

1.The actions of the public authorities and state institutions of the Republic of Moldova for blocking and cancellation of Moldova-Agroindbank shares and also release in their replacements of new bank shares, are illegal, violate the extraordinary decision of Arbitration institute of Chamber of commerce of Stockholm from 14/06/2016 on the case No. 2016/095, contradict rules of international law.

2.The Arbitration Institute of the Stockholm Chamber of Commerce conducts arbitration proceedings against the Republic of Moldova in connection with the unlawful deprivation of a number of foreign investors of the shares of Moldova-Agroindbank.

3.Any actions of public authorities and public institutions of the Republic of Moldova selling the specified shares of Moldova-Agroindbank are illegal, are insignificant and don't generate any legal consequences.

4.Actions of public authorities and public institutions of the Republic of Moldova for deprivation of foreign investors of shares of Moldova-Agroindbank break an international legal order in this connection, no decisions of the Constitutional court of the Republic of Moldova can serve as an excuse for the legality of such actions.

5.Any transaction on acquisition of the specified shares of Moldova-Agroindbank will be considered as invalid.

6.Potential buyers of the specified shares of Moldova-Agroindbank will be considered as unfair owners.

7.Legitimate owners of the shares of Moldova-Agroindbank will defend and protect the property right to these shares by all possible legal mechanisms, including the applying to international authorities.

8.The shares of Moldova-Agroindbank owned by legitimate owners will be claimed from illegal possession at potential buyers.

9.Potential buyers will be obliged to indemnify to legal owners of the specified shares the suffered damage and other losses.

Comments [ 1 ] Add Comment

  1. 2017.07.19 17:11 David
    It's intresting situatin!

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