FimBank asks for additional time to prepare documents
First International Merchant Bank (FimBank) asked Azerbaijani officials for additional time needed for preparing documents, the Azerbaijan Ministry of Communication and Informational Technologies told Trend.
FimBank has filed a lawsuit on the Azerbaijani government, claiming that the latter did not pay the credit, that was supposedly provided by the bank under the guarantee of the Ministry of Communication and Pochtbank to non-existing enterprise Aztell in the amount of $3,035,000 and Baktell in the amount of $1,560,000. Both enterprises are supposedly connected to the Ministry.
Case hearing was initially planned to be held on February 14, but was postponed to March 29 at the plaintiffs demand for delay, considering the lack of necessary documentation to carry out the procedures. However, FimBank again asked for the delay.
Last hearings were held at the Rotterdam district court on January 4 2006, where Azerbaijan presented imposing evidences proving that the government was not involved in the deal.
We have not made any decision yet, considering the banks demand on delay, and we will approach the court on that matter in accordance with the law, the state body said.
FimBanks appeal was addressed to the Paris court, which made the decision to freeze the Ministry`s financial assets in the form of 500.000 stocks ($3.5m) and their dividends invested in Р•utelsat S.A.
Decision of the Paris court will depend on the final decision of the Rotterdam court. the Ministry concluded.