TODAY.AZ / Business

Legal process on Azerbaijani government to be held in May, Barmek chief says

28 March 2007 [23:09] - TODAY.AZ
The International Center for Settlement of Investment disputes (ICSID) appointed the legal procedure on case of the Azerbaijani government on the charges raised by Barmek- Azerbaijan Electricity Distribution LLC for May 18.

Barmek president Huseyn Arabul told APA that as two judges are European, the process will take place in London.

Huseyn Arabul said that his company demands the Azerbaijani government compensation for the breach of a management agreement and intends to apply to all international organizations in this way. He said that his company applied to the ICSID in October 2006 but the preliminary process was held on February 20.

Huseyn Arabul is accused for embezzlement and abuse of power. The management agreement between the Azerbaijani government and Barmek was denounced on July 2006.
The company began to operate in Azerbaijan on January 1, 2002.

URL: http://www.today.az/news/business/38443.html

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