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586. What transactions are authorized under wind-down General License (GL) 15L?
GL 15L superseded GL 15K on April 25, 2022. While GL 15K authorized certain transactions and activities that were ordinarily incident and necessary to the maintenance or wind down of operations, contracts, or other agreements involving GAZ Group, or any entity in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest, and that were in effect prior to April 6, 2018, GL 15L only authorizes certain transactions and activities that are ordinarily incident and necessary to the wind down of transactions involving GAZ Group and any entity in which GAZ Group owns, directly or indirectly, a 50 percent or greater interest through 12:01 a.m. eastern daylight time, May 25, 2022.
All funds blocked prior to 12:01 a.m. eastern daylight time, May 22, 2018, remain blocked. Unlike its predecessors, this general license...
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1) FAQ amended on 7-22-2020 to reflect the expansion of the authorizations in GL 15 as they relate to activities involving GAZ Group. The FAQ generally restates the contents of the GL.
2) FAQ amended on 1-24-2022 to update the number of the GL to the one that was active at the time.
4) FAQ amended on 4-26-2022 to account for the conversion of GL 15 into a true wind-down GL, as opposed to a GL for wind down or maintenance.