Azerbaijan, Baku /corr. Trend S.Babayeva / Bakhtiyar Mammadov , the head of the Law and Personnel Department of the Azerbaijani Ministry of Communications and Information Technologies, stated on the 18th of June that the Paris Court of Appeal made a decision in favor of Azerbaijan with regards to the case of the Maltese Bank FIMbank (First International Merchant Bank). The Paris Court of High Instance made the decision in November of 2006 and the Bank was committed to pay €5,000 for inflicting moral damage to Azerbaijan and an additional €900 for court costs. FimBank , who repaid the outstanding amount, appealed to the Court of Appeal. The Court not only rejected the lawsuit of the banks, but also made a decision to pay off the additional €2500 to Azerbaijan for covering the court expenditures.
In July of 2004, the Maltese FIMbank raised a claim against the Azerbaijani Government regarding the non-payment of credit issued under the guarantee of the Communications Ministry and AKB Pochtbank to non-existent enterprises of the Ministry, Aztell $3,035,000 and Baktell $1,560,000.
