FIM Bank pays EUR5, 900 fine and court costs to Azerbaijan

FIM bank had to pay EUR5000 fine and EUR900 court costs and lift the seizure on the stocks of Communication and Information Technologies Ministry, APA reports.

ITC Ministry official for law and staff department Bakhtiyar Mammadov told that FIM Bank had to pay, if not, Paris Court of Appeals would not have considered the bank's appeal.

As the bank has fulfilled the court's decision, Paris Court of Appeals will consider FIM Bank's appeal on May 3.

Paris Court seized on Eutelsat S. A satellite provider's 500 000 stocks and dividends owned by ITC Ministry in July, 2004 on the claims of FIM Bank.