Baltic States – CIS, Financial Services, Latvia, Legislation
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Thursday, 25.04.2024, 21:50
The amount the Kyrgyz Government owes to Valeri Belokon has increased by US$1.5 million
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Furthermore, the Kyrgyz Government has
spent millions from the national budget for legal services in order to postpone
payment of this debt.
The Kyrgyz Republic is lying and is
trying to portray its desires as reality.
The French court of first instance declared
the assets of the Kyrgyz Republic cannot be alienated in the territory of France
in favor of V.Belokon. Kyrgyzstan does not have assets in France that could be
seized to pay off the debt.
Meanwhile, an English court ruled
that the international arbitration award is enforceable in Great Britain
without any contestation by the Kyrgyz Government. The Kyrgyz Government’s
action against the arbitration award in a country where at the moment there is
no threat of the seizure of assets to pay off the debt shows that, once again, the
objections it raised are not based on justifiable facts but part its strategy
to delay payment of the compensation awarded to V. Belokon by the Arbitration
Tribunal.
In October 2014 the Arbitration Tribunal
in Paris ruled that the Kyrgyz Government must pay Latvian citizen V. Belokon
US$16.5 mln for the illegal expropriation of Manas Bank. The Kyrgyz
Government did not carry out the arbitration award by the deadline, therefore
its debt to V. Belokon is increasing.
After receiving the amount awarded by
the Arbitration Tribunal, V. Belokon will pay taxes to Latvia in the amount of
approximately US$1,000,000.
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