Heydar Babayev: "Barmek's property and bank accounts seized"

Economic Development Minister Heydar Babayev said at a briefing that by decision the property of the company can't be appropriated, APA reports.

"Ad hoc commission set up in connection with Barmek problem continues its work and after documentation we will say good bye to Barmek. Grievous irregularities were observed during the inspection in Barmek."

He also said that Barmek appropriated Bakielectricshebeke instead of managing it and deceived the customers.

"Barmek appropriated assets of Bakielectricshebeke and merged it with Sumgait Electricity Network in fact."

He said that so far no company has applied to the government for replacing Barmek.

As to the fact that Barmek has filed an appeal to international investment-protection court, Mr. Babayev thinks this step natural. He said that it is Barmek's right to appeal.

"As to the Barmek claim to $300mn damages, the court will consider it. This statement of Huseyn Arabul, Barmek chairman, is nothing but intimidation and blackmail. 99% of his words are a lie and 1% are doubtful."

First court sitting on the claim of Economic Development Ministry will take place July 11.