Deputy Economic Development Minister: “Barmek” LLC’s claim for damages is illegal

Deputy Economic Development Minister:  “Barmek” LLC’s claim for damages is illegal
# 07 April 2007 10:35 (UTC +04:00)
The Deputy Minister of Economic Development Mikayil Jabbarov told journalists, APA reports.
Mikayil Jabbarov said Azerbaijani government has also sued “Barmek” LLC and it is investigated by local courts.
The Deputy Minister said Azerbaijan government is planning to response the letter which was sent by “Barmek” to ICSID on April 2. He also commented on the handover contract with “Barmek” LLC. He said the “Barmek” had not paid its debts yet. “Barmek” wanted the government to assume the responsibility on its debts. We offer that “Bakelectricshabaka” and “Sumgaitelectricshabaka” should assume “Barmek” debts but transfer 10% of debts to” Barmek” LLC’s account. “Barmek” wants the debts to be used for absorption of its debts to “Azerenerji”.
The Management Contract between Azerbaijani government and “Barmek” LLC was denounced on July 2006.” Barmek” LLC accused Azerbaijani government of illegally breaching the contract and applied ICSID in Washington. The court proceeding will be held on May 18. “Barmek” demands Azerbaijani government to pay compensation worth $ 500 million. /APA/

Politics

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