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Russia Sues Swiss "Noga"
28.05.2008 13:28
Russia Sues Swiss
Picture property of RIA Novosti

Russian authorities demand compensation from Swiss company Noga for reputation, damaged due to companys activities. The suit was filed to the French court.
      In January Noga representatives announced about blocking accounts of several state Russian enterprises in French banks. All this made Russia angry and caused a suit, in which Russia demanded compensation of damage, done by illegal account blocks by Noga and French court officer, which helped the firm. Russia decided to take Noga to court despite releasing all blocked accounts.
      This case has a 15-year-long history. In 1993 Russian government canceled a contract with Noga and had to pay some $ millions of forfeit. However, American businessman of Russian origin bought out Russian debt from Noga in 2006. Since that time Swiss company had no rights to arrest Russian property. Time to pay for being annoying, gentlemen!
      Source: BBC


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