Home Business Eutelsat Transfers EUR 400 Million Owed to “Space Communications”

Eutelsat Transfers EUR 400 Million Owed to “Space Communications”

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The “Satellite Communications” managed getting a huge sum previously seized. This is reported by TASS.

The French satellite operator Eutelsat transferred EUR 400 million to the “Space Communications”.

“At present, Eutelsat S.A. transferred the principal amount for satellite telecom services to the state-owned enterprise RSCC”, as the statement said.

The assets were seized in 2014, after the claims initiated by former YUKOS shareholders. The total amount assigned by the Dutch Court of Arbitration was USD 50 billion. On April 20, the rulings of the Dutch Court were revoked in The Hague.

Andrei Kondakov, Director General at International Center Legal Protection, remarked that due to lifting seizure of the accounts, the Eutelsat Company was able to pay off the debt to the “Space Communications”, exceeding EUR 400 million.

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