Seizure To Be Lifted From Slavneft's Property Worth $2.6M

The Land Court of Frankfurt-am-Maine (Germany) is likely to have ruled in favor of the Slavneft oil company and lifted seizure from its property worth $2.6m, Vice President of Slavneft Andrey Shtorkh declared in an interview with RosBusinessConsulting today. According to him, he talked to attorneys of Slavneft and "is sure by almost 100% that the court ruled in favor of the company." However, in spite of such a positive decision, court proceedings may continue for another two or three years, Shtorkh added. It is worth mentioning that in August 2001, the Land Court ruled in favor of a suit brought by the Russian bank Ost-West Handelsbank AG and seized Slavneft's property worth $2.6m.