MOSCOW, Dec 1 (PRIME) -- The Intellectual Property Rights Court has sided with two lower instances in rejection of a lawsuit by U.S. company Google seeking to invalidate the market valuation of its trademarks Google Play and G Pay in Russia, according to the register of arbitration cases seen by PRIME on Friday.
The court dropped Google’s cassation appeal against the March motion by the Moscow Arbitration Court and a follow-up decision by the Ninth Arbitration Court of Appeal.
In March 2022, bailiffs opened an enforcement action to claim a multi-billion court forfeit in favor of media holding Tsargrad from Google’s units. The bailiffs arrested the debtors’ assets, including trademarks Google Play and G Pay registered in the country.
The defendant, independent expert company Paks, was engaged by the bailiffs to estimate the brands, which were valued at slightly more than 325,000 rubles each.
Google said in its lawsuit that the experts neglected Google’s global fame.
(88.5819 rubles – U.S. $1)
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