The Administrative Court of the Republic of Armenia satisfied the claim of “Tashir Capital” CJSC against the government, giving the company the opportunity to expropriate its 70 percent share in “Electric Networks of Armenia” CJSC by May 25, 2026.
The court found it inadmissible to deprive the company of negotiations for the sale of property due to the bureaucratic delay of the postal notification by the government.
The legal dispute arose over the process of expropriation of HEP shares after the Public Service Regulatory Commission suspended the company’s electricity distribution license in November 2025. After that, the Ministry of Territorial Administration and Infrastructure offered the shareholders to sell 100 percent of the shares to the state, setting a deadline of February 21, 2026 for a response. The department intended to consider the absence of a response within the specified time as a refusal of the transaction.
The problem was that the Ministry’s official letter to Tashir Capital arrived only on February 25, four days after the deadline. As a result, the shareholder was physically deprived of the opportunity to express his position, negotiate and voluntarily alienate the property to the state.
Judge Artur Avagyan ruled that the deadlines for the fulfillment of obligations start to operate only from the moment of proper notification of the party. According to the court, the opposite interpretation violates the principles of legal certainty and justice.
“From a legal point of view, such a period is considered ineffective and cannot lead to the loss of rights. In such conditions, the company cannot suffer negative legal consequences, and the opposite position of the administrative body contradicts the constitutional protection of property rights,” the court’s ruling states.
The court also stated that under the existing circumstances, the use of stricter measures by the state, including forced expropriation of assets, will be assessed as a disproportionate and premature interference with property rights. In addition, during the court hearings, the representatives of the government did not present legal counterarguments regarding the calculation of the terms, which was considered by the court as acceptance of the facts pointed out by the plaintiff.
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