Bank Of Baku

AZN 1.3 mln allocated for companies defending Azerbaijan in lawsuit filed by FIM Bank and another company

AZN 1.3 mln allocated for companies defending Azerbaijan in lawsuit filed by FIM Bank and another company
# 15 October 2012 09:15 (UTC +04:00)
Baku. Rashad Suleymanov – APA. The Cabinet of Ministers has allocated funds for law firms defending the interest of Azerbaijan in the lawsuits at international courts. The Cabinet told APA that according to the order, AZN 1 320 000 has been allocated for State Committee on Property Affairs from the reserve fund of the Republic of Azerbaijan for 2012.
Funds have been allocated for law firm “Eversheds Faasen” defending the interests of Azerbaijan due to the lawsuit filed by the Malta-based “First International Merchant Bank” (FIM Bank). This lawsuit was filed against Azerbaijan to the Hague court. Funds will also be allocated for the law firms “Allen & Overy LLP” and “Quinn Emanuel Urguhart & Sullivan UK LLP” defending the interests of Azerbaijan within international arbitration proceedings in accordance with the lawsuit on investment in the construction of Baku World Trade Centre basing on the US-Azerbaijan bilateral investment agreement.
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