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WHY DID CHIEF COMPULSORY ENFORCEMENT OFFICER FORGIVE STAR SUPERMARKET OWNER'S HUGE DEBT?: HRAPARAK
07.15.2014 15:58 epress.am
Head of Armenia's Compulsory Enforcement Service of Judicial Acts
(CESJA) Mihran Poghosyan (pictured) in March had a monetary dispute
with owner of the Star supermarket chain Gevorg Afandyan, to whom
he had loaned $5,146,842, which he couldn't get back, writes Syuzan
Simonyan in local daily Hraparak.
It's not apparent from the Court of General Jurisdiction of Kentron
and Nork Marash Administrative Districts of Yerevan ruling, Simonyan
writes, how and when Afandyan accrued his debt to state official and
shady millionaire Poghosyan.
The Compulsory Enforcement Service press officer declined to provide
any comments to the newspaper, explaining that the case refers to
personal issues and not to CESJA activity.
The reporter recalls that in August 2011, Viest Assets, an offshore
company registered on the British Virgin Islands, became a major
shareholder in Star, and a month later, Star Divide acquired the Fresh
supermarket chain and 30 stores of the Catherine chain belonging to
the Chief Compulsory Enforcement Officer (Poghosyan).
It can be assumed that the debt accrued during this time, writes the
reporter, adding that the judicial process ended unexpectedly well for
the bankrupt businessman, whose hard times, it seems, are behind him.
During the court hearings, the parties reached an agreement, and as
a result of the reconciliation, Poghosyan conceded most of the $5
million debt. The $5,146,842, according to the court's estimates,
is a little more than 2 billion Armenian dram. Poghosyan conceded
a large part of this money -- 1.5 billion AMD -- together with the
accrued interest to Afandayn, asking from him only 499 million AMD. As
a result of what mutual agreement this deal occurred and who persuaded
Poghosyan to turn down this enormous amount of money, one can only
guess. His representative in court, attorney Lyudvig Davtyan told
the paper he doesn't want to add anything to what is already stated
in the court ruling. Asked under what conditions Poghosyan "donated"
1.5 billion AMD to Afandyan, the lawyer didn't wish to answer, as it
was "Poghosyan's good will."
The reporter doesn't rule out the possibility that playing a huge
role in all this was Armenian President Serzh Sargsyan's brother,
Sashik Sargsyan, with whom Afandyan became close recently, and who,
according to the newspaper, has taken under his wing the owner of
the famous retail chain of which only the name remains: Star.
http://www.epress.am/en/2014/07/15/why-did-chief-compulsory-enforcement-officer-forgive-star-supermarket-chain-owners-huge-debt-hraparak.html
07.15.2014 15:58 epress.am
Head of Armenia's Compulsory Enforcement Service of Judicial Acts
(CESJA) Mihran Poghosyan (pictured) in March had a monetary dispute
with owner of the Star supermarket chain Gevorg Afandyan, to whom
he had loaned $5,146,842, which he couldn't get back, writes Syuzan
Simonyan in local daily Hraparak.
It's not apparent from the Court of General Jurisdiction of Kentron
and Nork Marash Administrative Districts of Yerevan ruling, Simonyan
writes, how and when Afandyan accrued his debt to state official and
shady millionaire Poghosyan.
The Compulsory Enforcement Service press officer declined to provide
any comments to the newspaper, explaining that the case refers to
personal issues and not to CESJA activity.
The reporter recalls that in August 2011, Viest Assets, an offshore
company registered on the British Virgin Islands, became a major
shareholder in Star, and a month later, Star Divide acquired the Fresh
supermarket chain and 30 stores of the Catherine chain belonging to
the Chief Compulsory Enforcement Officer (Poghosyan).
It can be assumed that the debt accrued during this time, writes the
reporter, adding that the judicial process ended unexpectedly well for
the bankrupt businessman, whose hard times, it seems, are behind him.
During the court hearings, the parties reached an agreement, and as
a result of the reconciliation, Poghosyan conceded most of the $5
million debt. The $5,146,842, according to the court's estimates,
is a little more than 2 billion Armenian dram. Poghosyan conceded
a large part of this money -- 1.5 billion AMD -- together with the
accrued interest to Afandayn, asking from him only 499 million AMD. As
a result of what mutual agreement this deal occurred and who persuaded
Poghosyan to turn down this enormous amount of money, one can only
guess. His representative in court, attorney Lyudvig Davtyan told
the paper he doesn't want to add anything to what is already stated
in the court ruling. Asked under what conditions Poghosyan "donated"
1.5 billion AMD to Afandyan, the lawyer didn't wish to answer, as it
was "Poghosyan's good will."
The reporter doesn't rule out the possibility that playing a huge
role in all this was Armenian President Serzh Sargsyan's brother,
Sashik Sargsyan, with whom Afandyan became close recently, and who,
according to the newspaper, has taken under his wing the owner of
the famous retail chain of which only the name remains: Star.
http://www.epress.am/en/2014/07/15/why-did-chief-compulsory-enforcement-officer-forgive-star-supermarket-chain-owners-huge-debt-hraparak.html