Constitutional Court addresses courts over loan debts

The Constitutional Court has commented on the issue of which exchange rate to use to pay off loan debts.

 

On February 21, the Central Bank adopted a relevant decision on the devaluation of Manat rate. The decision raised a number of questions among citizens, the court press service told APA. 

 

"It should be mentioned that some citizens are wondering which exchange rate will be used to pay off loan debts. There have been some media reports containing the opinions of different individuals.

 

The Commissioner for Human Rights (Ombudsperson) of the Republic of Azerbaijan and the Goychay district court have sent an enquiry and a request to the Constitutional Court in order to review the Civil Code’s compliance with the Constitution and also for the Civil Code’s articles 439.1 439.2 and 439.7 to be explained. At the same time, an explanation for some articles of the Civil Code is requested. The enquiry and request will be reviewed by the Constitutional Court’s Plenum on May 7.

 

According to the Constitution of the Republic of Azerbaijan, decisions of the Constitutional Court’s Plenum are binding in the territory of the Republic of Azerbaijan and obligatory on courts. Therefore, considering the importance of court decisions being unbiased and legally founded, courts have to wait for the Constitutional Court’s Plenum’s final decision on the issue,” the statement says.