Azeri Communication Ministry expects ending litigation with FIM Bank by 2007
Azerbaijan is waiting for the final verdict of Rotterdam district court on litigation between the government and First International Merchant Bank (FIM Bank) of Malta,Trend reports quoting Ali Abbasov, Minister of Communication and IT.
The bank filed the lawsuit against the government on non-repayment of credits supposedly issued against the security of Communication Ministry and JSCB Pochtbank to fake enterprises Aztell and Baktell in amount of $3,035,000 and $1,560,000, respectively.
The Minister expressed his confidence in making the final verdict in favor of Azerbaijan.
В"During the last hearing, the banks representatives demanded additional hearing of witnesses registered as such in this case. This procedure shall be financed by plaintiff himselfВ", - minister underlined.
Abbasov said the litigation might end by the end of 2006.