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Auction on sale of property of Karen Demirchyan Sports and Concerts
Complex still going on, JACES says
by Arthur Yernjakyan
Friday, June 27, 22:09
JACES says that on June 26 the Armenian Civil Court of Appeal found
legally valid the conclusion of the court of general jurisdiction of
Kentron and Nork-Marash communities of Yerevan, which said that the
enforcement proceeding No. 01/02-2373/14 based on Article 37 Part 1
Item 5 of the Armenian Law "On judicial acts compulsory enforcement"
is not subject to suspension. In addition, the appeal petition of the
Sports and Concerts Complex was declared ungrounded. The information
that the Armenian Civil Court of Appeal has declared the auction on
the sale of property of the Karen Demirchyan Sports and Concerts
Complex as illegal has nothing to do with the reality, the Judicial
Acts Compulsory Enforcement Service of Armenia has told ArmInfo. To
recall, earlier Armine Hakobyan, lawyer of the Complex, informed
ArmInfo of the Court's decision.
Recently, the starting price of the lot was 15,673,500,000 AMD. In
early June 2014 the starting price was 17,415,000,000 AMD, and in May
2014 - 19,350,000,000 AMD.
Earlier the Judicial Acts Compulsory Enforcement Service of Armenia
(JACES) reported that in accordance with the order of enforcement
submitted to JACES by the fist instance court of Kentron and
Nork-Marash administrative districts, over 10.207 billion AMD was to
be collected from the Karen Demirchyan Sports and Concerts Complex in
favor of the Republic of Armenia. The debtor's property appraisal was
examined on 15 April 2014.
In the meantime, on May 21 the PR Department of the Sports and
Concerts Complex disseminated a statement saying that the e-auctions
launched by JACES were "illegal". The company disagreed with the
market price (25.8 billion AMD) estimated by Best Realty LLC
registered in the offshore zone in Panama.
The Karen Demirchyan Sports and Concerts Complex accuses JACES
employees of office abuse, because the court's verdict has not yet
come into force and is currently being considered by the Court of
Appeal.
To note, the total area of the Complex (built in 1983) is 46335.7
sq.m., exclusive of the subsidiary facilities. In 1985 the building
of the Complex was damaged by a fire and opened only after renovation
in late 1987. The building was renovated by BAMO construction company
(Russia).
http://www.arminfo.am/index.cfm?objectid=3CF13560-FE26-11E3-A3900EB7C0D21663
From: Emil Lazarian | Ararat NewsPress
Complex still going on, JACES says
by Arthur Yernjakyan
Friday, June 27, 22:09
JACES says that on June 26 the Armenian Civil Court of Appeal found
legally valid the conclusion of the court of general jurisdiction of
Kentron and Nork-Marash communities of Yerevan, which said that the
enforcement proceeding No. 01/02-2373/14 based on Article 37 Part 1
Item 5 of the Armenian Law "On judicial acts compulsory enforcement"
is not subject to suspension. In addition, the appeal petition of the
Sports and Concerts Complex was declared ungrounded. The information
that the Armenian Civil Court of Appeal has declared the auction on
the sale of property of the Karen Demirchyan Sports and Concerts
Complex as illegal has nothing to do with the reality, the Judicial
Acts Compulsory Enforcement Service of Armenia has told ArmInfo. To
recall, earlier Armine Hakobyan, lawyer of the Complex, informed
ArmInfo of the Court's decision.
Recently, the starting price of the lot was 15,673,500,000 AMD. In
early June 2014 the starting price was 17,415,000,000 AMD, and in May
2014 - 19,350,000,000 AMD.
Earlier the Judicial Acts Compulsory Enforcement Service of Armenia
(JACES) reported that in accordance with the order of enforcement
submitted to JACES by the fist instance court of Kentron and
Nork-Marash administrative districts, over 10.207 billion AMD was to
be collected from the Karen Demirchyan Sports and Concerts Complex in
favor of the Republic of Armenia. The debtor's property appraisal was
examined on 15 April 2014.
In the meantime, on May 21 the PR Department of the Sports and
Concerts Complex disseminated a statement saying that the e-auctions
launched by JACES were "illegal". The company disagreed with the
market price (25.8 billion AMD) estimated by Best Realty LLC
registered in the offshore zone in Panama.
The Karen Demirchyan Sports and Concerts Complex accuses JACES
employees of office abuse, because the court's verdict has not yet
come into force and is currently being considered by the Court of
Appeal.
To note, the total area of the Complex (built in 1983) is 46335.7
sq.m., exclusive of the subsidiary facilities. In 1985 the building
of the Complex was damaged by a fire and opened only after renovation
in late 1987. The building was renovated by BAMO construction company
(Russia).
http://www.arminfo.am/index.cfm?objectid=3CF13560-FE26-11E3-A3900EB7C0D21663
From: Emil Lazarian | Ararat NewsPress