Armenian leader Pashinyan asserts Armenia's victory in the arbitration dispute with tycoon Karapetyan
In a recent development, Armenian Prime Minister Nikol Pashinyan has claimed victory in an arbitration case initiated by Russian-Armenian tycoon Samvel Karapetyan against Armenia regarding the Electric Networks of Armenia (ENA).
The process was set in motion after Karapetyan's detention in late June, charged with making calls to overthrow the government. The ENA, managed by Karapetyan's Tashir Group, has been at the centre of a dispute between Pashinyan's government and Karapetyan.
Pashinyan's government allocated $3.25 million to US law firm Arnold & Porter to represent Armenia at the Stockholm Arbitration Court. However, no information about the person representing Armenia on the day of the report in the investment arbitration case filed against Armenia by Samvel Karapetyan is available.
The investment arbitration case against Armenia was launched on 11 August by the Karapetyan family, seeking $500 million compensation. The Armenian authorities adopted legislation that allows nationalization of the ENA in July, following Karapetyan's arrest. Pashinyan cited public discontent with the company's services and frequent power outages in Armenia as reasons for the move.
Karapetyan's team published a letter sent by Liparit Drmeyan's office, noting that the arbitration ruling in favour of Karapetyan was mandatory to implement. Drmeyan's office later confirmed this information to Armenian media.
In a statement, Pashinyan asserted that 'no one can defeat Armenia anywhere' in reference to the ongoing arbitration. Karapetyan's legal team is grateful for Pashinyan's remarks and believes that another such statement will lead to their final victory in the arbitration court.
Notably, Liparit Drmeyan, head of the Office of the Representative on international legal matters, was dismissed by Pashinyan. Drmeyan's stance on the arbitration ruling was reported by News.am on 15 August.
Pashinyan responded immediately to a journalist's question by stating that anyone with a position contradicting his must resign or be removed. It is unclear at this time what the nature of the dispute between Pashinyan and Karapetyan, or the details of the arbitration case, are. However, it is certain that this case will continue to be a significant point of interest in Armenian politics.
No further information about the current state of the arbitration court's ruling or the intended newsroom powered by readers is provided in this paragraph. The Armenian government and Samvel Karapetyan's legal teams are expected to provide updates as the situation develops.
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