APPEAL COURT HEARS SUIT FILED BY OSTINVESTOR
Kristine Aghalaryan
Today’s Court of Appeals session involving the suit filed by
Ostinvestor against Gagik Tsarukyan’s Yerevan Ararat Brandy-Wine-Vodka
Factory (YABWV) had to be rescheduled for July 12 due to a scheduling
conflict.
The court managed to ask Ostinvestor attorney Davit Danielyan a few
questions pertaining to the case which dates back several years.
Ostinvestor argues that it was swindled out of its shares in YABWV
through a 2008 stock consolidation.
The company had spent 184 euros per share and thus wound up paying
279,680 euros for its original 1,520 shares.
On March 27 of this year, a lower court in Yerevan ordered YABWV to
pay Ostinvestor, 14.8 million AMD ($36,662) in compensation.
Following this decision, Ostinvestor CEO Stefan Laxhuber told Hetq,
“~SWe are very disappointed and are currently discussing the verdict.”
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Direct link to this article: https://www.armenianclub.com/2013/06/28/appeal-court-hears-suit-filed-by-ostinvestor/