French Association of Russian Bond Holders looses lawsuit

The French Association of Russian Bond Holders, or AFPER, has lost the case against the Russian government.

A higher instance court ruled, Wednesday, that the lawsuit, in which AFPER demanded the Russian government pay a total of 337.8 million euros in compensation, should not be triable.

The court cited the Russian government's immunity to the suit. It also dismissed the document signed by 500 individuals on formal grounds that the full list of the signers had not been attached to the suit.

The court recalled that under a relative Russian-French agreement, Russia had paid $400 million to settle the property disputes that had emerged before 1945.

Russia's present position on the matter is that the disputes have been settled completely and further claims from the French holders of Russian bonds shall be settled with the French government.

This was not the first lost case against the Russian Federation government for AFPER. Yet, the Association continues seeking compensation payments from Russia.