June 6, 2006, Murmansk – Today, the Arbitration Court of the Murmansk region has granted the claim of the OJSC “Archangelsk Trawler Fleet” (“ATF”) seeking recovery of property from illegal ownership. The court has found that the defendant – the Mauritanian company, Societe De Promotion De La Peche, has illegal ownership of the fishing vessels, “Capitan Kononov”, “Yuozas Alexonis” and “Trawlmeister Mogutov” and that right of ownership belongs to the ATF.

In its claim, the ATF stated that the defendant used a decision of the court of Nouadhibou (Mauritania) of August 23, 2004 to prove its right of ownership and use of the trawlers. According to this earlier decision the trawlers were transferred to the defendant as repayment of the debt. However this debt has been found not to exist, a fact that was confirmed by the law enforcement agenciesOf Russia No representative of ATF had ever signed documents relating to the alleged debt, as claimed by the Mauritanian party. Furthermore it was stated in the claim that the defendant breached international law by gross violation of the norms of the bilateral Agreement concluded between the Government of the Russian Federation and the Government of the Islamic Republic of Mauritania on cooperation in the field of sea fishery - neither ATF nor any other Russian organization were informed about the arrest and sale of the trawlers.

According to the decision of the Arbitration Court of the Murmansk region the defendant (the Mauritanian company Societe De Promotion De La Peche) must return the fishing trawlers “Capitan Kononov”, “Yuozas Alexonis” and “Trawlmeister Mogutov” to their legal owner – the ATF.