South African Court Backs Russian Bankruptcy Case Against Google
In a groundbreaking move, a South African court has backed the enforcement of a decision in a Russian bankruptcy case involving a Google subsidiary. This is the first such ruling worldwide, potentially opening doors for asset seizures in other jurisdictions where Russian media have pursued legal action.
The ruling stems from a lawsuit challenging the transfer of nearly 10 billion rubles in dividends to Google's US parent company. Experts believe this decision paves the way for the seizure of Google's assets in other countries where similar legal proceedings are underway. Notably, Google LLC did not contest the ruling, allowing Russian media to pursue legal action in foreign courts.
The South African court's decision marks a significant shift in cross-jurisdictional legal proceedings involving tech giants. While Google has not opposed the ruling, the implications for its assets worldwide remain to be seen.
