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Forced Auction Of The Property Of Milano Boutique Suspended

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  • Forced Auction Of The Property Of Milano Boutique Suspended

    FORCED AUCTION OF THE PROPERTY OF MILANO BOUTIQUE SUSPENDED

    ArmInfo
    2010-05-06 14:18:00

    ArmInfo.The forced auction of the property of Milano boutique was
    suspended two days ago, the head of the Judicial Acts Compulsory
    Enforcement Service (JACES) of the Ministry of Justice of Armenia
    Mihran Poghossyan said during a press-conference today.

    In Jan 2007 the government of Armenia adopted a decision to implement
    a number of construction projects in Yerevan for public needs. The
    construction sites embrace also the area of Milano boutique in
    Abovyan Street 4. Avo F.M.KH. LLC has acquired the right to launch
    construction in the given territory. The compensation to Olypm
    production cooperative, the owner of Milano, was estimated at some
    207 million drams. Olypm declined the money. The court ruled that it
    should vacate the premises. In Mar the JACES forced the owner out of
    the shop with its property put up for forced auction.
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