SEDELMAYER CONCLUDES 4 AUCTIONS WITHIN 5 MONTHS BRINGING EURO 8,000,000 RUSSIA THREATENS TO RETALIATE AGAINST SWEDISH MISSION

PRESS RELEASE


 SEDELMAYER vs. RUSSIAN FEDERATION

SEDELMAYER CONCLUDES 4 AUCTIONS WITHIN 5 MONTHS BRINGING EURO 8,000,000

RUSSIA THREATENS TO RETALIATE AGAINST SWEDISH MISSION 

The foreclosure of Russian Federation real estate assets in Sweden and Germany have now all been concluded! The last auction was held in Stockholm on February, 18. The previous three auctions were all held in Cologne between September 2013 and February 2014.

Kingdom of Sweden:

The Russian Federation did not participate in the auction held last Tuesday, thus the 7-story apartment building has been sold to a private Swedish investor for Euro 2,3 mio. (case # F-228-10-01)

Russia, angered by the loss of its real estate to a private local investor, has since threatened to respond with „symmetric measures“ against Sweden's mission to Russia.http://mid.ru/brp_4.nsf/0/C449477851D8CE6A44257C850039C5B5 , http://rapsinews.com/news/20140218/270745888.html

The circumstances of the foreclosure proceedings in Sweden have been rather unusual. In 2012 the debtor started an aggressive publicity campaign to discourage potential buyers claiming immunity from execution, as the building was unilaterally declared to be an integral part of Russia's trade mission, also housing Russian diplomats.

An attempt by Sweden's minister of foreign affairs, Carl Bildt, to instruct Swedish authorities to stop the foreclosure led to a reprimand by the parliament's constitutional committee instructing the minister to stop interfering with due process of law. 
http://www.riksdagen.se/sv/Start/Press-startsida/pressmeddelanden/201213/KUs-granskning-av-regeringen-klar/
 

Federal Republic of Germany:

Since September 2013, three auction were now concluded in the city of Cologne resulting in Euro 5,7

mio. (case # 093 K 039/07, 093 K 025/07, 093 K 037/07)

In an attempt to stop the foreclosure the debtor has brought several counterclaims in German courts. All cases were either dismissed or withdrawn. The Cologne court just now openly criticized Russia's methods and intentions when (ab-)using the German court system to defend against a creditor:

-The debtor has no intention to pay. (case # 22 O 486/10)

-The debtor obstructs due process. (case # 22 O 63/14, 22 O 64/14)

-The debtor hides crucial information. (case # 22 O 63/14, 22 O 64/14)

-The debtor tries to put pressure on the court. (case # 22 O 63/14, 22 O 64/14)

Background: Franz J. Sedelmayer, a German citizen residing in France, has obtained sizable Swedish and German judgments and an international arbitral award against the Russian Federation between 1998 and 2014, under the auspices of the Stockholm Arbitration Institute. The case concerned the illegal expropriation of Sedelmayer’s holdings in Saint Petersburg, Russia, in 1995 by the late Russian President Boris Yeltsin. Russia has since categorically refused to compensate this creditor. Sedelmayer managed to auction off Russian Federation property in Germany and Sweden, making him the only successful private creditor of Russia to date. Foreclosure proceedings of the former Russian Trade Delegation facilities in Sweden and Germany have now all been concluded!

Franz J. Sedelmayer
Creditor