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Azerbaijan, Fimbank to bring additional witnesses to Rotterdam Court by July 15

27 June 2007 11:40 (UTC +04:00)

On November 10, 2006, Paris Higher Instance Court overruled the previous decision, and lifted the arrest on the stocks and fined FIMBank EUR 5,000, plus EUR 900 for legal expenses, which was to be paid to the Government of Azerbaijan.
FimBank has fulfilled this decision.
Rotterdam Court heard witnesses of the both parties on June 4. The court ruled that the parties have to found additional witnesses by July 15 because of contradiction in statements made by witnesses.
The Court had put an arrest on the stocks and dividends of Azerbaijan in the European Telecommunications Satellite Organization (Eutelsat) in 2004 amid a row between Azerbaijan and FimBank. The Court also made a decision in January, 2006 to seize the stocks on the basis of the false documents submitted to the court by FIMBank.
Paris Higher Instance Court overruled the decision and lifted the arrest on stocks on November 10, 2006. /APA-Economics/