Switzerland announced on Tuesday that it refused to immediately provide to the Egyptian government information on frozen assets belonging to the deposed president Hosni Mubarak and their relatives.
This was after the Swiss Federal Criminal Court in Bellinzona had made a ruling on Tuesday in regard to rejecting to grant Egypt the right to get information on the frozen assets belonging to Hosni Mubarak.
However, the Federal Prosecutor’s office had previously confirmed Egypt’s right to have information on Mubarak’s frozen assets.
The Swiss Federal Criminal Court believes that due to the political as well as the judicial unrest in Egypt amid President Mohamed Morsi’s recent decrees – which revoked disputes between the country’s executive and judicial authorities, the guarantee Egypt offered is insufficient to make Switzerland disclose relevant information, MENA reported,
Switzerland promised to disclose relevant information, when the two countries can effectively conduct cooperation in terms of mutual legal assistance.
In July, Switzerland confirmed it had frozen the assets of Mubarak and his relatives worth a total of about US$ 700 million.
