Paris Court Made a Favorable for Azerbaijan Decision, on the Case of Malta's FIMBank
The Paris Court has made a favorable for Azerbaijan decision on the case of Malta's FIMBank (First International Merchant Bank). On July 2004, the Bank brought a lawsuit against the Azerbaijani Government on the fact of the credit non-payment by the non-existing enterprises of the Telecommunication Ministry - Aztell ($3035000) and Baktell ($1560000), which was allegedly granted against a security of the Telecommunication Ministry of the Country and Azerbaijan Joint Stock Commercial Pocht Bank The Court made a decision on canceling the arrest on Azerbaijani 500.000 shares in Eutelsat S.A from France and on their dividends of more than $1 mln.
According to the decision of the Court, the Bank will pay в'¬5.000 for a moral damage an additional в'¬900 for expenses on legal issues.
The Azerbaijan party is intending to implement the same Court decision towards the means that were transferred as a deposit to a special account. That is a formal issue which should be decided within the few days, the Telecommunication Ministry said.