Grinnell Management Inc.

Grinnell Management Inc. was a company registered in Panama.[43] Leyla and Arzu Aliyeva were the directors,[43] [45] [110] and Comset Management was the company secretary.[43] [45] [110] The company documents were prepared by Morgan & Morgan,[43] [45] a Panama law firm.[639]

Grinnell was one of three Panamanian companies linked to Azerfon,[522] a major Baku-based telecommunication company that trades as Nar.[546] The other companies were Hughson Management Inc and Gladwyn Management Inc.[522] In 2011, each company owned 24% of Azerfon.[522] At that time, Leyla and Arzu Aliyeva alternated between being director and shareholder of the companies, and Mestelan held the position of treasurer.[522]

In response to The Sentry, Azerfon said that Leyla Aliyeva, Arzu Aliyeva, and the three Panama companies do not hold stakes in Azerfon, adding: “Our management approach is based on integration of highest standards into everything we do. In particular, our corporate governance is built upon a set of internal regulations and policies that allows the management to mitigate potential non-compliances and subsequent risks which could ultimately affect our reputation as a reliable partner and service provider.”[1402]

Grinnell Management was dissolved in 2019.[46]