Imprisoned Russian-Armenian businessman’s family files USD500mn lawsuit against Yerevan
(MENAFN) The family of imprisoned Russian-Armenian businessman Samvel Karapetyan has filed a $500 million lawsuit against the Armenian government, led by Prime Minister Nikol Pashinyan, over the nationalization of his company, Electric Grids of Armenia. Karapetyan was arrested in June after publicly supporting the Armenian Apostolic Church amid tensions with Pashinyan and allegedly calling for a seizure of power. Following his arrest, the prime minister announced plans to nationalize the company, and Parliament passed legislation enabling state control.
The family is seeking compensation for both current and future damages, according to TASS sources. They have also filed a case with the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) under a 1995 bilateral investment treaty between Armenia and Cyprus. In late July, the tribunal ordered Yerevan to halt any further steps to seize the utility company, a decision binding on the Armenian government.
Karapetyan remains in custody as investigations continue. He is among several prominent figures targeted in Yerevan’s crackdown on opposition, which also included the detention of Archbishop Bagrat Galstanyan and Bishop Mikael Ajapakhyan. The arrests followed mass protests accusing Pashinyan of compromising Armenia’s national interests by ceding border villages to Azerbaijan. Moscow has stated it is closely monitoring Karapetyan’s case due to his Russian citizenship.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
