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. Last Updated: 07/27/2016

Unexim Plan Approved

MOSCOW -- Ninety-nine percent of Uneximbank's creditors voted Thursday to accept a restructuring deal proposed by the bank and then moved to petition the court to cease bankruptcy proceedings against the institution, the bank said in a statement.

The creditors also requested the Central Bank to restore Unexim's license.

The creditors' decision is not binding on the court, which can take any stance when it considers the bank's case again at a hearing slated for Nov. 23. The restructuring terms' approval merely reinforces Uneximbank's chances of salvation, lawyers said Thursday.