According to Two International Trials Azerbaijan to Pay Attorney Companies 1,320,000 Manat

According to two international trials, the Azerbaijani government will pay to foreign law firms 1 million 320 thousand in manat equivalent.

According to data in the government sources, the Maltese First International Merchant Bank (FIM Bank) appealed to the Hague Appeals Court for compensation against Azerbaijan. The proxy in this case in the appellate court will be the legal company Eversheds Faasen. The subject of the trial has not been reported. However, perhaps it is the scandal of the liquidated state-owned bank PochtBank.

The second case will be investigated by the International Court of Arbitration and regards the construction of the Baku International Trade Center, which is owned by LLC MKT Istehsalat & Kommersiya. According to official data, the center, located at the Heydar Aliyev Avenue, was built by the Azerbaijani-American investment agreement. The interests of the Azerbaijani state on the case will be protected by the law firms Allen & Overy LLP and Quinn Emmanuel Urquhart & Sullivan UK LLP.

The defendant in these proceedings is the State Committee on Property. The funds have been allocated from the reserve fund of the state budget for the year 2012.

* LLC MKT Istehsalat & Kommersiya belongs to the family of the Emergency Situations Minister Kamaladdin Heydarov. This company is mainly engaged in the cotton business, and has monopolized the production and processing of cotton. - 08B-