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500 Actions Brought against Violators of Leases in Azerbaijan in 2008

Business Materials 8 November 2008 17:41 (UTC +04:00)

Azerbaijan, Baku, 8 November / Trend corr. N.Ismayilova / From January to October in 2008, the Azerbaijani  State Committee for management with state property transferred AZN 4mln to the public budget from lease of the real estate and this figure is by 40% more than the forecasted figure within ten months, the State Committee said on 8 November. About 900 leases were signed and term of 1,100 leases was prolonged during this period.

About 700 leasers received warning letters on necessity to repay debts on rent. Moreover, measures are taken to eliminate violations of lease terms, which committed by some leasers. About 470 lawsuits were filed on violations of lease terms in 2008.

The correspondent can be contacted at [email protected]

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