RSCC successfully manages to obtain unfreezing of Eutelsat S.A. cash assets owed to RSCC under their contracts

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On Wednesday, 23 November 2016, the Paris Court of Appeal lifted interim measures initiated earlier with regard to Eutelsat’s cash owed to RSCC.

In August 2015, in keepings with protocols, signed by judicial bailiff-executor upon a claim submitted by Hulley Enterprise Ltd, all cash assets of French companies owed to the Russian Federation and its entities, in particular, RSCC, were frozen.

In the course of 2015-2016, court hearings were under way with a view to lifting the seizure of funds, including interim measures against the Eutelsat S.A. liabilities to RSCC.

The current positive ruling was achieved thanks to professional efforts of RSCC specialists and French lawyers acting on behalf of RSCC. 

At present, Eutelsat S.A. has transferred to RSCC the principal amount due and payable to RSCC for satellite communications services.