Barmek Azerbaijan notified on contract breakup Minister of Economic Development
Barmek Azerbaijan officially notified the Ministry of Economic Development on unilateral breaking up the contract. Trend reports quoting Minister of Economic Development Heydar Babayev, the company had also informed the ministry of filing the lawsuit to Washington court for investments.
В"The revision commission keeps working and we are not going to give in to the companys requirement to reimburse $291mln of investments in Azerbaijans power networks. We still shall see who owes whom. By the result of revision it will be figured outВ", minister said.
He said the commission today is determining Barmek Azerbaijans investments amount, as well investigations related to complaints from consumers regarding collection of payments from the population through blackmailing.
Mikail Jabarov, deputy Minister of Economic Development an head of commission, one of main clauses of violation of assumptions is that Barmek Holding established Barmek Azerbaijan and transferred all assets on Baku and Sumgayit power networks to its account, which is not stipulated by the contract. According to preliminary investigations, the companys investments are much less than declared amounts.
The courts preliminary decision on arresting Barmek Azerbaijans property and bank accounts says the arrest does not cover salaries payment and municipal expenses. В"Barmek Azerbaijan may make payments in amount more than 10,000 AZN only with consent of the MinistryВ", Jabbarov said.