The Head of the Law and Staff Department of the Ministry of Communications & Information Technology of Azerbaijan, Bakhtiyar Mammadov, informed Trend that the Appeal Court of Paris rejected the petition of Maltese FIMbank (First International Merchant Bank) on terminating the implementation of the resolution made by the Paris Court of High Instance (Tribunal Le Grande Instance de Paris) in favor of Azerbaijan.
The petition of Maltese FIMbank on terminating the implementation of the resolution made by the Paris Court of High Instance was rejected, but there is another side to the case. According to the appeal of the Bank, in the future, the Appeal Court will consider this decision in essence because there are conditions and grounds of the decision of Paris Court of High Instance, he said. The session of the Appeal Court has not yet been fixed.
In July 2004 Maltese FIMbank had raised a claim against the Azerbaijani Government regarding the non-payment of credit issued under the guarantee of the Communications Ministry and AKB Pochtbank to non-existent enterprises of the Ministry, Aztell in amount of $3,035,000 and Baktell - $1,560,000.
The decision on canceling the arrest of Azerbaijani 500.000 shares in Eutelsat S.A from France and on their dividends of more than $1 mln. The Bank did not agree with this resolution and appealed to the Appeal Court.
According to the resolution, the bank should pay в'¬5,000 for inflicting moral damage to the Azerbaijani side and an additional в'¬9,000 for court costs.