The Azerbaijani Minister for Communications & Information Technologies, Ali Abbasov, promises that a petition filed by the First International Merchant Bank (FIM Bank) at Rotterdam Court with respect to evidences provided by the Azerbaijani witnesses, is the last desperate step by the Bank, Trend reports.
The Minister told journalists that the legal proceedings are nearing the end. We believe that the court will be fair in its ruling in favor of the Azerbaijani Government, he stressed
The court will hear evidence in the latter part of December.
Previously the bank did not agree with the Ministrys proposals for 8 witnesses in Rotterdam to give evidence. The Court fulfilled the petition.
The Paris Court will consider the appeal by Azerbaijan early this October. On the basis of the suit brought on by the Bank, the Paris Court imposed an arrest of the Ministry of Communications of Azerbaijan for 500,000 shares invested by the French Company Eutelsat S. A. on its dividends at the rate of more than $1.
The Paris Court has recently fulfilled another petition by the bank and sentenced on security of the funds at a special account. So, the decision has been made, the funds which the Paris Court estimates to be $6.5 mln. will immediately be remitted to the account of the side who wins the case.
In July 2004 the First International Merchant Bank (FIM Bank) filed a suit against the Azerbaijani Government regarding the non-repayment of credit supposedly issued against the security of Communication Ministry and JSCB Pochtbank to bogus enterprises Aztell and Baktell in the amount of $1,560,000 and $3,035,000, respectively.