Appeal Court of Paris to Consider Appeal of Maltese FIMbank
Azerbaijan, Baku /corr Trend S.Babayeva / The Azerbaijani Ministry of Communications and Information Technologies reported that the Maltese FIMbank (First International Merchant Bank) presented official information to the Azerbaijani side on implementation of the decision of the Appeal Court of Paris on fulfillment of the decision of Paris Court of High Instance made in favor of Azerbaijan. Paris Court of High Instance made the decision in November 2006 and the Bank was committed to pay €5,000 for inflicting moral damage to Azerbaijan and an additional €9,000 for court costs. This decision was not carried out because of FimBank's appeal to the Court of appeal of Paris. Azerbaijan objected to FIMbank's appeal at the Court of Appeal prior to execution of a decision by the Court of High Instance. This has led to a positive outcome for Azerbaijan. The bank was forced to implement the decision of the court. On 3 May the Court of Paris will consider, in detail, a petition raised by FIMbank to provide evidence of the sentence passed by the high instance in Azerbaijan's favor. In July 2004, the Maltese FIMbank 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 $3,035,000 and Baktell $1,560,000.