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Finance Ministry contests adversary award in lawsuit against fishing company

14:20 16/11/2011

MOSCOW, November 16 - RAPSI, Natalia Belova. A commercial court has registered the Finance Ministry's appeal against the dismissal of its $429 million claim against a trawler fleet, the court told the Russian Legal Information Agency (RAPSI).

The ministry sought from the Murmansk Trawler Fleet (MTF) unjust enrichment for operating six fishing ships purchased for the fleet at the federal budget's expense. The amount is determined on the basis of the fish caught over the ship's nine years of operation, which the ministry deems unlawful.

The ministry explained to the court that the fleet's obligation to repay the funds was documented in a debt instrument that was later declared invalid. Therefore, the funds were collected under a legal procedure, but the ministry seeks unjust enrichment for the entire period when the fleet possessed the vessels, but had yet to pay for them.

Acting for the MTF's benefit, Sudoimport entered into contracts with the German A.V.Naat to build eight fishing ships for MTF and to renovate two. The contracts had been funded by the Foreign Economic Bank at the expense of foreign loans.

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Finance Ministry contests adversary award in lawsuit against fishing company

14:20 16/11/2011 A commercial court has registered the Finance Ministry's appeal against the dismissal of its $429 million claim against a trawler fleet.
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