(SRI) - Samruk-Kazyna, Kazakhstan's state-owned holding and investment company, filed a claim in a Kazakh court against BTA Bank and "some of its creditors" over $300 million in transactions, BTA said on Wednesday.
"The challenged transactions relate to the loans, secured by the bank's guarantees, issued by Credit Suisse to several companies organized under the laws of the British Virgin Islands," BTA said in a statement on its website.
The court issued an injunction prohibiting creditors "whose claims are based on the bank's guarantees to claim from the bank to make relevant distributions pending the outcome of Samruk-Kazyna's claim," BTA said.
BTA defaulted on its debt in April 2009, two months after being taken over by Samruk-Kazyna, among allegations of fraud and political pressure.
The bank expects to finalize the restructuring of its $12.2-billion debt in September, following the creditors' approval in May.
