First International Merchant FIMBank didnt agree with the proposal of the Ministry of Communications and Information Technologies of Azerbaijan regarding conducting a hearing of 8 witnesses who participate in the case in Azerbaijan. The bank insists that the hearing of witnesses should be held in the Rotterdam itself, basing on the non-transparency of the court system in Azerbaijan, Trend reports with reference to the same ministry.
In case of refuse of witnesses to provide additional evidences, there is no danger for any juridical proceedings related to them. However, it is not excluded that in the future, while summing the results of this fact, it may be used against Azerbaijani side.
It is only decision of the bank and Rotterdam court hasnt made any final decision regarding the requirement of FIMBank yet, the same source told.
Moreover, the Paris Court which is on the base of the suit brought by the bank imposed an arrest on means of the Ministry of Communication of Azerbaijan Republic at the rate of Azerbaijani partys 500 thousand shares invested by the French Company Eutelsat S. A. on its dividends at the rate of more than $1, satisfied the banks appeal, on the decision of which the same means were taken of the security on a special account. That means by the courts final decision these means assessed by the Paris Court to the sum of 6,5 m euros automatically will be transferred to the balance of that party which won the court process.
В"Taking last events into consideration, the work is performed to prepare additional documents for Paris courtВ", said officials of the authority. In July 2004 First International Merchant (FIM Bank) filed a suit on Azerbaijani government regarding non-repayment of credit supposedly issued against the security of Communication Ministry and JSCB Pochtbank to fake enterprises Aztell and Baktell in amount of $1,560,000 and $3,035,000, respectively. Last time the government submitted the documents proving its have-nothing-to-do with this case in January 2006.
The ministry officials say the bank, pressing to lead hearings, sets the only aim to prolong the litigation.