March 21, 2008 By James Kimer

Russian Property Seized for Auction in Germany

File this one under painful irony: after so many years of the Kremlin seizing private property and holding rigged auctions, now they get a taste of their own medicine as a German court has ruled to allow the seizure and auction of a government-owned building in Cologne, worth some $30.8 million. The Moscow Times reports that “the ruling by Cologne’s higher court might open the floodgates in Germany for debt claims against the Russian government.” More after the cut.

Back