CREDITORS OF BANKRUPTED SUPERMARKET CHAIN WAIT IN LINE TO RECEIVE MONEY, BUT WITH NO HOPE
03.25.2015 17:34 epress.am
The bankrupted Star supermarket chain, according to court verdict, had
10 billion drams worth of debt to a number of businesses. To this day
the latter have not received their money, writes the Hraparak newspaper
stressing that there is currently a new “rip-off scheme” going on.
The paper writes that every day about ten suppliers of the Moskvichka
trade chain wait in line in front of the Business Leader Holding
office. However, the companies have no hope that their losses will be
restored. “In the wholesale trade sector usuallu we work relying on
one’s honest word because there is no legal mechanism to guarantee one
from losses,” said a Business-Leader Holding Company creditor Levon
Farmanyan, who deals with importing dairy products and wholesale,
to the Hraparak journalist.
Farmanyan assured that he annually loses around 10 percent due to
dishonest businesses and this situation is widespread. “I have court
verdicts regarding a dozen of subjects that have ruled confiscation,
but it’s not possible to actually implement the confiscation because
the compulsory enforcement service says that the subject doesn’t
exist or has no assets,” said the entrepreneur.
Note, that Moskvichka supermarket chain belongs to Yerevan’s former
police chief Nerses Nazaryan’s family. The supermarkets began to
slowly close after Nazaryan’s dismissal, according to the media,
the company is in serious financial problems.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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