Ostinvestor vs. Yerevan Brandy Trial Postponed
[ 2010/02/23 | 15:17 ]
Today’s trial session, scheduled for the Kentron and Nork-Marash District Court, in the on-going Ostinvestor legal suit against Gagik Tsarukyan’s “Yerevan Ararat Brandy” company was postponed.
The cause for the postponement was that Davit Mantashyan, the legal representative for Yerevan Brandy had never gotten around to providing company documents to Ostinvestor, the plaintiff, prior to today, as obligated. Mr. Mantashyan stated in court that Yerevan Brandy had only supplied him with the documents on February 19 and that he had been busy relocating his office.
“Ostinvestor”, a German portfolio investment firm, claims that Tsarukyan, who heads the Prosperous Armenia Party, illegally obtained the shares through a questionable stock consolidation deal. It wants to get the shares back.
On February 16, the court had partially sustained the motion of Ostinvestor that Yerevan Brandy make available certain internal company documents including its official state registration certificate and corporate charter, along with all amendments and addendum.
Judge Melkumyan has scheduled the next trial date for March 2, in order to allow Ostinvestor’s legal team to familiarize themselves with the documents.
