ICSID to continue haring on Barmek’s suit in July

ICSID to continue haring on Barmek’s suit in July
# 19 May 2007 09:52 (UTC +04:00)
He said that as two of the judges were Europeans Azerbaijani government and Barmek agreed on holding the trial in London. Huseyn Arabul said he joined the process through video conference from World Bank Baku office.
Four including Deputy Economic Development Minister Mikayil Jabbarov represented Azerbaijani government and seven lawyers represented Huseyn Arabul (Abbas Atakishi from Azerbaijan). The company president said 18 petitions were considered in the process. The court gave 14 days for additional petitions. The next trial will be held in July.
Huseyn Arabul’s suit demands Azerbaijani government to pay him $460mln., end the criminal case launched about the company, release the company officials and lift the ban on his leaving the country.
The company appealed to the international court on October 16, 2006. Preliminary court proceeding was held on February 7 this year.
Azerbaijani government signed the contract with Turkey’s Barmek Holding Inc., the company was charged to run the Bakielektrikshebeke (Baku electricity distribution) Open Joint Stock Company and Sumgayitelektrikshebeke (Sumgayit electricity distribution)for 25 years. The contract was breached in July, 2006 and the company was accused of not fulfilling the terms of the contract. Criminal case has been launched about him in Azerbaijan.
Huseyn Arabul and seven more Barmek officials faced charges under 179.3.2 (misappropriation), 308.2 (exceeding power) and 313 (abuse of power).
ICSID is an autonomous international organization. It has close ties with World Bank. All ICSID members are at the same time members of the World Bank, the organization mainly considers the disputes of foreign investors with governments. /APA/