involved in multimillion dollar claims against the Czech government and a former business partner.

Last Friday CME was granted a seizure order against Vladimir Zelezney, the former partner, by the Prague district court in the Czech Republic.

This huge legal battle resulted from a joint media business venture entered into by CME and CET21, Dr. Zelezney's company, in 1993 in the Czech Republic.

The partners invested in a television station, Nova TV, which was licensed by the Czech Media Council on behalf of that country's government.

CME claims that in 1999, with the assistance of the Czech Media Council, Dr.

Zelezny stripped them of their interest in Nova TV by transferring use of the licence to his own operating TV company.

Fred Klinghammer, president and chief executive officer of CME, said: "The (Czech) government actively participated in the hijacking of the value of CME's investment in the Czech Republic.'' He said he is surprised that in an emerging economy that is actively seeking foreign investment, the government will then work against the foreign investor.

CME estimates the loss of Nova has cost it around $470 million, destroying the value of its shares which used to be quoted on the Nasdaq.

The seizure order granted in Prague relates to an arbitration judgment issued on February 13 in Amsterdam by an international panel of judges. The panel agreed unanimously that Dr. Zelezny had violated a contract he signed with CME. The panel did not impose the $470 million claimed by CME, but ruled he should repay $23 million plus $4 million interest.

The order allows CME to seize all moveable assets, publicly known shareholdings in CET21 and bank accounts belonging to Dr. Zelezny. It also prohibits Dr. Zelezny from disposing of his ownership in CET21 and prohibits that company from paying any money to Dr. Zelezny for his share in it.

Bailiffs in Prague attempted to seize property but were refused acces to any material assets. In France last week bailiffs acting under a similar order in favour of CME seized furnishings and paintings from a chateau owned by Dr.

Zelezny, and registered a judicial lien on the chateau.

As well as continuing to pursue Dr. Zelezny's assets, CME have lodged claims against the Czech Republic for around half a billion dollars. The first of these, entered under a US treaty, will be heard in London on March 5 and the second, under a Netherlands treaty, will be heard in Stockholm on April 25.