Paris Appeals Court to announce its decision on FimBank's appeal in late May

The both parties made statement at the trial. The court will issue the decision in late May.

On November 10, 2006, Paris Higher Instance Court overruled the decision, and lifted the arrest on the stocks and fined FIMBank EUR 5,000, which was to be paid to the Government of Azerbaijan.

Besides, FimBank was to pay EUR 900 for legal expenses suffered by Azerbaijan.

Azerbaijan's Communications and Information Technologies Ministry lawyer Bakhtiyar Mammadov told APA-Economics that Rotterdam Court will hear witnesses on June 4.
 
At the last sitting on December 18, 2006, this court heard FimBank President.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.