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Russia to Appeal against Freeze Order, Claim Compensation from Noga
Russia intends to appeal against the order freezing accounts of its agencies in France under the Noga suit and will seek the respective compensation, the RF Finance Ministry said in an official statement.
Russia’s Foreign Ministry has sent the respective note to French authorities. The accounts were frozen without any preliminary notification to the RF government or their holders; none of such accounts has the funds belonging to the RF government, Finance Ministry emphasized.
According to people in the ministry, the bailiffs in Paris froze accounts of Russia’s agencies in a few French banks January 2, 2008. The action affected funds of Russia’s news agency, RIA Novosti, and a few deposits placed by the Central Bank of Russia. Under the legal documents delivered to French banks, the ground for accounts' freeze was the ruling of Stockholm Arbitration that upheld Noga in 1997.
But the lawyers attracted by Russia said that Noga misled the court in France, as it isn’t the owner of claims under Stockholm ruling, having conceded the rights to a few banks of Switzerland. Russia acquired the rights of claim after a string of deals and “Noga has no longer any financial or other interest to demand the compensation under the ruling of Stockholm Arbitration, to which it referred to block Russia’s assets in Paris,” the RF Finance Ministry pointed out.
www.kommersant.com
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