ACTIONS CORNER

The legal dispute between Bilfinger and Tubin is becoming ever more heated. Tubin, Bilfinger’s former business partner, has obtained attachment orders against Bilfinger’s subsidiary companies in France, Belgium and the Netherlands. None of the three has sufficient funds any more to pay. Furthermore, 60 million Euros of unpaid debts dating back to a construction initiative in Qatar loom on the horizon. In November 2011, an arbitration tribunal ruled convincingly in favour of the Turkish construction company. So far, Bilfinger has not pursued the matter further but it has announced its intention of launching a legal appeal against the issuance of the attachment orders notified.

In the now ten-year-old legal wrangle launched by the relatives of a terrorist attack for compensation from Iran, a New York court rejected a claim because the assets held on Clearwater accounts – shares worth 1.75 thousand million dollars according to United States legal documents – failed to be handed over. In Autumn 2013, the receiver from Deutsche Börse had given assurances that 1.8 thousand million dollars of the central bank of Iran (Bank Markazi) presently on a Clearstream deposit account with Citigroup in USA would be freed up. Now, the plaintiffs have unearthed money held in Luxemburg too, that they are laying claim to.