by Tmyphone: Motorola and Nokia claim to have found the $3.4 billion awarded during the long running lawsuit against the Turkish Uzan family. The 2003 judgement arose from finance and supply agreements between Motorola and Telsim of approximately $2 billion. Motorola and Nokia claims that Libananco Holdings, a Cypriot shell company is a front for the Uzans...
At the same time the Uzans entered in to a similar agreement with Nokia without Motorola’s knowledge. Nokia and Motorola jointly filed to recoup more than US$2 billion. Following the issue of warrants for arrest from the Turkish government, the Uzan family have since remained fugitives. The Turkish government seized the assets of the family and in 2005 sold Telsim to Vodafone for US$4.55 billion. However, only a portion of that sum was used to settle the legal claims against the Uzan family. It was also recently reported that Cem Uzan has requested asylum in France following conviction for fraud after he left Turkey in early October. He is appealing the current court ruling.
At the same time the Uzans entered in to a similar agreement with Nokia without Motorola’s knowledge. Nokia and Motorola jointly filed to recoup more than US$2 billion. Following the issue of warrants for arrest from the Turkish government, the Uzan family have since remained fugitives. The Turkish government seized the assets of the family and in 2005 sold Telsim to Vodafone for US$4.55 billion. However, only a portion of that sum was used to settle the legal claims against the Uzan family. It was also recently reported that Cem Uzan has requested asylum in France following conviction for fraud after he left Turkey in early October. He is appealing the current court ruling.
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