Home Business RSCC litigates for the Eutelsat’s stocks

RSCC litigates for the Eutelsat’s stocks


The Russian Satellite Communications Company has legal proceedings for the stocks of the French operator Eutelsat.

The Federal State Unitary Enterprise Russian Satellite Communications (RSCC) wants to get back via the court 36 million stocks of the French satellite operator Eutelsat from the foreign company Orion Satellite Communication, as reported by the Kommersant.
According to the publication, in 2001, the RSCC agreed with the European company on acquiring securities for EUR 23 million, but the company has never received them. The Court of Paris saw the indications of fraud and initiated an investigation.
The US District Court of Delaware ruled to prepare evidences for the case of the RSCC’s property, tried by the French court. This is recorded in the judgement and cover letter of the judge Sophie Moreno. She also requests the United States to provide constituent documents of the involved companies, to institute searches of offices and to receive information from computer hard drives concerning the RSCC and the satellite operator’s stocks.
According to Mrs. Moreno, she conducts the trial on obtaining property by fraud, and those guilty are facing a 5-year imprisonment and a fine of EUR 375 thousand.
The RSCC’s lawyers agree that the company was the victim of fraud. We shall also point out that the company’s archives lack of documents regarding that transaction.
According to the interviewee of the Kommersant, the stocks of Eutelsat under the companies’ litigation are actually seized.