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Will Electronic Auction Be Canceled?

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  • Will Electronic Auction Be Canceled?

    WILL ELECTRONIC AUCTION BE CANCELED?

    A1+
    [03:22 pm] 19 December, 2008

    Armenia's Compulsory Execution Service (CES) is scheduled to put up the
    assets and the right of property of Bjni Company for electronic auction
    on December 19. The auction hasn't started yet. There is no information
    about the pending auction available on the service's website wither.

    CES Spokesman Ruben Grzelyan couldn't give us any definite information
    about the auction. Still yesterday it was supposed that the action
    would be canceled as one of the creditors -"Saturn ShinMontaj" brought
    in an action against recognising the bankruptcy of Bjni Ltd. The
    Northern Civil Court noted the claim and appointed a temporary
    administrator.

    Grzelyan says they haven't got an official recognition of the company's
    bankruptcy which would allow them to cancel the auction.

    Ruben Grzelyan also added that yesterday the company's administration
    petitioned them to withdraw the action relying on the court's
    decision. "They have attached a copy of the court decision to
    the petition. Yet, we cannot dismiss the case on that ground. The
    court must officially inform us about its decision," note the CES
    Spokesman. He promised to give us a concrete answer within two hours.

    Advocate of the Bjni Company Ara Zohrabyan noted that if a suit is
    filed against bankruptcy, the Service of Compulsory Execution must
    dismiss the case.
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