The Business Ombudsman studied the appeal of Farangis LLC, which operates in Naryn region, to provide practical assistance in resolving a dispute with “Halq Bank” JSC.

It was established that in November 2018, the Naryn branch of “Halq Bank” JSC allocated a loan to Farangis LLC in the amount of 200 million soums for the construction of a health center in Naryn region, for a period of 60 months with a grace period of 12 months. However, due to the difficult financial situation that arose during the pandemic, the company violated the terms of the loan repayment schedule. Based on this, a claim was filed to the Uchkurgan interdistrict court to recover the debt from Farangis LLC. 

The court decision provides for the collection of debt from the account of Farangis LLC in the amount of 175,777,502 soums in favor of “Halq Bank” JSC. The debt collection is envisaged to be carried out at the expense of the seizure of the building of Farangis LLC with a total building area of 645.86 m².

In order to resolve this situation, the Business Ombudsman organized a meeting with the participation of representatives of the bank and Farangis LLC, as a result of which the parties agreed to temporarily suspend the execution of the court decision. At the same time, an agreement was reached with the bank on deferring the payment of the debt by the company in the amount of 26 million soums until the end of March.