Court Hearings on a Suit Brought by a Turkish Holding against Azerbaijan Economic Development Ministry to Be held in Washington

Oil&Gas Materials 27 February 2007 21:32 (UTC +04:00)

Azerbaijan, Baku / Trend , corr. I. Khalilova/ The preliminary hearing on the suit brought by Barmek Holding of Turkey against the Azerbaijan Economic Development Ministry, has been fixed for March 28. Mikayil Jabbarov, the Deputy Azerbaijan's Economic Development Minister, has said during the press-conference that the forthcoming court hearings will be held in the International Arbitrary Court in Washington, Trend reports.

An American legal company, Gladham Watkins represents the interests of the Azerbaijani party in the person of the Economic Development Ministry.

The subject of the suit brought by the Turkish Holding against the Azerbaijani Government became the returning of investments at $291 mln., the Turkish Company put into the Baku and Sumgayit electric power distributing networks.

According to the Azerbaijani official, the Azerbaijan Economic Court is also occupied with the case connected with Barmek. Notably, The Azerbaijan Economic Development Ministry has brought an action against Barmek on compensating the damage, particularly, due to the lack of the assets in the Baku and Sumgayit networks to the sum of $30 mln. The Ministry initiated the suit in December, 2006. A court hearing on the case will take place very soon.