Azerbaijani Government Ready to Protect Its Interests in Lawsuit Brought by Barmek Holding in Washington Court

Business Materials 6 December 2006 17:57 (UTC +04:00)

Azerbaijan Government has formed its position toward a lawsuit brought by Turkey Barmek Holding, which has initiated a legal action in the Washington Court, said Mikayil Jabbarov, Deputy Azerbaijan Economic Development Minister, Trend reports. The subject of the action is to receive a compensation of $291 mln. that the Turkish Company invested into BakiElektrikShabaka (Baku Electric Power Distributing Network).

According to the rules of the arbitrary court, each party appoints an arbiter, and these two arbiters, for their parts, choose a third one. The above mentioned process is a usual legal action, and it does not bother us. The Azerbaijani Government is ready to prove its right both in domestic court and in any international one, said the Deputy Economic Development Minister.

Up to date, all interests of the Azerbaijani party have been protected on different sound legal proceedings, and no court has made a decision against the interest of the country. I am sure that the interests of Azerbaijan will be fully defended in this case as well, Mr. Jabbarov said.