New York courts has made a ruling in favour of Entel, Bolivian telecoms operator, granting access to it’s frozen funds, in the US bank account of USD36 million. The ruling states that the Telecom Italia owned holding company with a controlling stake in Entel, had no right to seize any of the company’s assets. The case is a result of the Bolivian government’s decision to renationalise the fixed line operator, following which ETI announced of freezing approximately USD90 million in foreign bank accounts. In July British courts as well ruled in favour of the Bolivian government, unfreezing USD49 million in UK bank accounts.
Wireless Federation » Entel funds to be released - New York court ruling (USA, Bolivia)
Entel funds to be released - New York court ruling (USA, Bolivia)
- August 5th, 2008
- 6:40 am
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