IASCF loses right to Russian translations of IFRSs

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04 Apr 2005

The IASC Foundation has lost a legal battle over who owned the copyright to the 1997, 1998, and 1999 Russian translations of IASs – the IASC Foundation or a company that had paid the IASCF a £25,000 fee for the right to prepare and publish the translation.

The High Court of Justice in London has ruled that the copyright belongs with the translation company ZAO Askeri-ACCA. The IASCF has also been ordered to pay the translation company's legal costs. Click to Download the High Court Judgement (PDF 63k). Subsequent to the judgement, the IASCF was denied the right to appeal, and the Russian company has sued the IASCF for damages.

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