The Judge of the Supreme Court of Paris lifts the seizure of accounts of the company Eutelsat due to the Russian company FSUE (the Federal State Unitary Enterprise) “Satellite Communications” under their ongoing contracts.
The seizure was imposed by the Cyprus Company Hulley Enterprises, former shareholder of the YUKOS Company.
The judge’s decision states that the assets do not belong to Russia, and in fact were the property of the FSUE “Satellite Communications”. Accordingly, there was no state debt.
Commenting on this decision, Yuri Prokhorov, CEO at FSUE “Satellite Communications”, remarks that “We are satisfied with the fair ruling of the French court. We are also looking forward to further fruitful cooperation with our strategic partner Eutelsat Company in the field of satellite communications and digital broadcasting”.
Despite passing that judgement, the FSUE “Satellite Communications” emphasizes that the process may go on and last for years, because the losing party may appeal to another court.
