PARIS/MOSCOW, Dec 12 – The administrator of Google’s defunct Russian enterprise has obtained a brief freeze on some 110 million euros ($129 million) of the Alphabet-owned firm’s property in France, official orders seen by Reuters present.
The transfer represents a uncommon try by Russian authorities to make use of authorized channels to focus on property of western corporations abroad, amid rising tensions over the potential use of seized Russian property in Europe.
Russia’s central financial institution is individually suing Brussels-based monetary establishment Euroclear, which holds lots of the frozen Russian property, in a Moscow courtroom.
The measure towards Google France includes shares belonging to Google International and was sought by Google Russia, appearing by its court-appointed judicial administrator.
The French bailiff declined to remark. Google, Google Russia’s administrator and the French authorities didn’t reply to repeated Reuters requests for remark.
The French bailiff’s orders present its motion is predicated on three rulings issued between 2024 and 2025 by Moscow arbitration courts, that are regulated by worldwide business regulation.
William Julie, the lawyer representing the liquidator at French regulation agency WJ Avocats, mentioned {that a} Russian tribunal had discovered Google responsible of an unlawful dividend cost in 2021 price round 10 billion roubles ($126 million).
Julie mentioned the Russian liquidator was additionally pursuing enforcement in Spain, Turkey and South Africa.
Google, whose dad or mum Alphabet has a stock market worth of some $3.8 trillion, has confronted a number of fines from Moscow, whereas Google Russia filed for chapter in 2022 when authorities seized its checking account, months after Russia invaded Ukraine.
GOOGLE CAN CHALLENGE TEMPORARY FREEZE
The French bailiff’s order creates a brief freeze and French regulation requires attorneys to launch formal recognition proceedings inside one month or the freeze expires.
Julie mentioned these paperwork can be filed with the courtroom within the coming days and Google France additionally notified.
The Paris Judicial Court will then study whether or not to grant a proper recognition and enforcement authorisation of the overseas arbitration selections, Julie mentioned, a course of that might take as much as a year-and-a-half.
Google can problem the momentary freeze with the enforcement choose. If a recognition and enforcement authorisation is granted, the frozen funds may very well be seized to fulfill the arbitration courtroom judgements, Julie added.
(1 euro = 93.0263 roubles)
($1 = 79.2455 roubles)
($1 = 0.8524 euros)