Development Bank of Kazakhstan seeks probe into Kagazy.

By bne IntelliNews March 9, 2011
State-owned Development Bank of Kazakhstan (DBK) is seeking a probe by law-enforcement authorities into alleged misappropriated use of USD 10mn borrowed by Kagazy. The bank asked the authorities for help after a technical audit to review a request by Kagazy to restructure USD 70mn debt. Kagazy is the largest paper producer in Central Asia. DBK declined the plan to restructure debt of the companys units AO Astana Contract and TOO Paragon Developments which oversee a container and warehouse terminal in Almaty.

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