ALMATY (Reuters) – A court in Kazakhstan has approved a draft debt restructuring plan filed by troubled bank BTA and granted legal protection for its successful completion, the bank said on Thursday.

BTA Chairman Anvar Saidenov said the decision, passed by the Special Financial Court of Kazakhstan’s financial capital Almaty on May 8, “confirms the legitimacy of the restructuring process initiated by the bank and gives us a high degree of confidence in its successful outcome.”

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