COMMUNICATIONS MINISTRYвЂ™S FUNDS STILL UNDER ARREST
The funds of the Ministry of Communications and Information Technologies (MCIT) in the total amount of 500,000 shares ($3,5 million), invested in the Р•utelsat S.A. Company, are still under arrest.
The next court hearing in this respect was to take place on 1 July, however, due to some objective reasons it was delayed for an uncertain period, head of the MCIT legal department Bahtiyar Mamedov told Trend.
According to him, the decision on the further state of the AzerbaijanвЂ™s funds will be taken at the sitting which, supposedly, to take place either in late third quarter or in early fourth quarter.
As the suit of the FIM Bank filed against the AzerbaijanвЂ™s government on non-payment of the loan, allegedly, allocated by the Bank under the guarantees of MCIT and the Poctbank to MCITвЂ™s non-existing enterprises was sent to the Paris court, the court made a decision to respond to the suit arresting the MCITвЂ™s funds.
The amount of the loan, allocated by the Maltese Fim Bank for the unrealized enterprise Aztell under MCIT is over $3 million and for Baktell вЂ" over $1milllion.
Till now MCITвЂ™s expenditures on international courts procedures are about 70,000 Euro.