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Jan. 14, 2008
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CBR Accounts Frozen in France, Noga Lawyer Said
Accounts of the Central Bank of Russia (CBR) and of a number of Russia’s companies have been frozen in France under the lawsuit of Swiss Noga, Ogonek magazine reported January 14 referring to the exclusive interview of the company’s lawyer Antoine Korkmaz. The information hasn’t been confirmed by other sources yet.
According to Korkmaz, Russia’s debt to the firm amounts to some $110 million and the Noga claims have been confirmed by International Arbitration Courts in Stockholm and Paris.

The funds with an investment bank of Credit Agriole Group were actually frozen, Echo Moskvy gave the details of the interview. The respective order was sent to the bank January 2, 2008 and the freezing was confirmed January 4. The money belongs to the CBR, while the actual owner is Russia’s government, Korkmaz said.

Noga has no evidences proving media reports whereby the debt had been bought out by Alexander Kogan, the U.S. businessman of Russia’s origin. Russia owes around $800 million, the lawyer specified.

In the interview with Echo Moskvy, Kogan expressed his astonishment by lawyer’s words. Noga has no rights to claim anything from Russia and all debts have been settled in part and in whole, the businessman pointed out.

In the never-ending dispute with Moscow, Noga attempts from time to time to seize Russia’s assets, including Sedov sailing ship, jets at Le Bourget Air Show and paintings of Pushkin Museum of Fine Arts.
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