TODAY.AZ / Business

French court disappoints FimBank

25 January 2007 [01:07] - TODAY.AZ
Paris Court has refused the request lodged by Malta's FimBank for suspension of the execution of a court decision on lifting the arrest from 500,000 stocks of Azeri Government in the European Telecommunications Satellite Organization (Eutelsat).

Court had put arrest on the stocks in 2004 amid a row between Azerbaijan and FimBank, Azerbaijani Communications and Information Technologies Ministry Lawyer Bakhtiyar Mamamdov told APA.

 Court also made a decision in January, 2005 to seize the stocks on the basis of the false documents submitted to the court by FIM Bank of Malta.

In November Paris Higher Instance Court cancelled the decision, and lifted the arrest on the stocks.

FimBank appealed against the decision in vain as Paris Court disappointed the bank rejecting its request.


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