Friday, 22 November

German CEO Ready for Prolonged Legal Battle with Tsarukyan

Stefan Laxhube, CEO of the German investment firm “Ostinvestor” says he’s prepared to wage a long-term legal struggle against Prosperous Armenia Party head Gagik Tsarukyan for swindling his company out of shares it purchased in the “Yerevan Ararat Brandy-Wine-Vodka Factory” (YABWV). 

In a conversation with Hetq, Laxhube said the case was pivotal regarding how official Armenia treats foreign investors. 

Laxhube says he will take the case to all legal venues available so that Tsarukyan’s MultiGroup compensates “OstInvestor” for the true value of the shares it lost.

Hetq covered the legal case in a July 20, 2009 article entitled “German Firm Loses Shares in Armenian Company Owned by Gagik Tsarukyan

At the time, Laxhube stated that:

Ostinvestor” has decided to apply to the courts in defense of its rights. The firm had sought the assistance of ten law firms in Armenia to represent its interests in the courts. All declined the job saying that they were afraid of the ramifications. We prefer not to reveal their names at the present time.

Not from one single Armenian authority did we receive even a hint of an answer. Not one single reply – nothing! What remains is a hypothetical democracy under whose guise national and personal interests dictate dealings with westerners like us.

Laxhube says he wouldn’t have invested in Armenia if he hadn’t seen large potential in Armenia.

The German CEO recently told Hetq, “Armenia really has large potential and it could increase. However, for that to happen, Armenia must respect and guarantee the minimum rights of foreign citizens, otherwise Armenia will not be seen as an attractive market.”

Home page

See also

more news

Comments (20)
1. aram20:48 - 14 November, 2012
Indeed, Hayastan's laws and courts "have to honor and guarantee the minimum rights' defense of foreigners (investors) , otherwise Armenia can not be considered (for them) an appealing country".
2. Pats Achker01:25 - 15 November, 2012
Aram, he didn't say "appealing country". He said "attractive market" They are two entirely different things and he is quite correct is saying so.
3. H.03:11 - 15 November, 2012
I'm glad that a German is standing up to Tsarukyan, but it is the Armenian people who need to do something about Tsarukyan's criminal behavior. Change won't come from the top, however (the courts, politicians, etc. are mostly as corrupt as he is), it has to come from the bottom. When will it? The Armenian people can only take so much.
4. Hye Delight09:10 - 15 November, 2012
Nothing will happen in the way of legal battles, unless Armenia develops a legal system similar to that of the USA and implements it at the government level, free of any outside influences. Armenia does not have a checks and balances system, that's why it is hard to enforce the punishment of wrong doers with money. So many diaspora Armenians went to buy property and got ripped off without and legal recourse. When someone is wronged and has no legal recourse, this is equal to a failed system.
5. Sako11:57 - 15 November, 2012
Armenia does not need to develop a legal system like that of the EVEN BIGGER Corrupt USA. It's funny how everyone says there is corruption in armenia you can understand why there would be big corruption in armenia because ''most'' people have not seen good things in there lives, so they are willing to do things for that EXTRA money. What is your answer to big corruptions happening in the so called ''developed'' democracy countries like the u.s.a, britain, germany etc etc? they have seen everything and still are corrupted, but the only difference is the media is controlled BY them so you hear next to little about what is happening. Keep dreaming that you live in a corrupt-less country, keep putting down your nation, keep making turks happy, all the people that put down armenia are the enemies of the nation.
6. Nozir12:00 - 15 November, 2012
It is time, it is really time that Armenian people stand up and show the world: We are friendly, honest and hard-working people. Gagik Tsarukyan and all his fellows need to be punished, they are ruining our nation!!! What a shame that nobody really stands up and takes notice of that
7. Xunsap'ha13:20 - 15 November, 2012
Let's call the spade a spade for a change. Armenia is a little country, governed (better still - robbed) by a bunch of corrupt, deceitful, self-caring oligarchs (a nice-sounding word for thieves and gangsters) , who make their millions on the backs of the poor, hard-working citizens and foreign investors. Its whole legal system is rubbery, designed to serve the politicians (another misnomer for criminals-in-charge). So, by definition Armenia is a failed state (meaning - a country of no future and no real hope). Visitor and/or investors in Armenia certainly do so at their own risk. See how easy it is to tell the truth!!
8. H.13:37 - 15 November, 2012
No, Sako, it is oligarchs/thieves like Tsarukyan who are enemies of the nation. Do not become upset just because the truth is being told. And which country do you live in, exactly? Why do I get the sense that you live in the "even bigger corrupt USA" (or another "developed democracy country") and not Armenia?
9. Samvel18:55 - 15 November, 2012
H writes: „but it is the Armenian people who need to do something about Tsarukyan's criminal behavior. Change won't come from the top“ How right you are!! Only if we Armenians get our ass up and stand up to stop these oligarchs, we will be able to achieve good recognition and reputation from outside! I had been reading the first part of this story on another Blog. A few years ago along with this Laxhube there had been a brig group of 30 European investors travelling to Armenia, seeking and looking around what type of business to do in Armenia. Foreigners opening a business in Armenia means Jobs & wealth for the common people. But what happened?? Read yourselves – its increadible all these people had been expelled because they noticed what happened and happens with that German investor. Have you read the Armenian version of this article?? I tells more. Why do we have such an agency like this “Armenian Development Agency” when they do nothing else but supporting Tsarukyan in expelling foreigners. Sako, how can one expect that the world is seeing Armenia in a different and better way if we all show the world such a picture? I feel so sad reading all this. And I am an Armenian living in Turkey…..
10. Iwan19:02 - 15 November, 2012
Nothing will change. Nothing. Armenians never will wake up and see, how important it is for a small country to have a positive image in the world. Instead thyy support and vote and cheer and admire guys like this Dody Gagik who ruins the country. I wonder where is the "opposition"? Why has nobody ever heard about this case that seems to last for years now? Why? I tell you: Becasue the are all the same. And the Armenian people? They just don´t care what happens.
11. ominac21:52 - 15 November, 2012
Պէտք է ընդունիք որ, այս տեսակ գողերը պետական պաշտօններու վրայ են որովհետեւ ոչ մէկուն հոգն է հայաստանի վիճակը, երբ տարբերութիւն ընելու ատենը գայ, այսինքն աւելորդ կեդրոնանալու, աշխատանք դափելու որ գործերը մեր ուզած գիծով զարգանայ, տունը մարդ չիկայ, աւելի կը նախընտրենք ուրիշ երկիր երթալ կամ թէկուզ հայաստանի մէջ բայց այս ձեւով բաց նամակներ գրել կայքէջերու վրայ քան թէ կազմակերպուելով այս գողերը դուրս քշենք պետական համակարգեն։ Շատ աւելի դիւրիւն է
12. Yougibear12:45 - 16 November, 2012 .....
13. Steve17:21 - 16 November, 2012
Great that this German stands up and does not give up. Samvel: You are 100% right in my opinion. Iwan: If we give up the hope that Armenians would change their passive behaviour, then such websites like this one would be useless and obsolte. The fact that we can read some of the true stories here still leaves some hope.
14. Mher20:21 - 16 November, 2012
Yes move forward, give Gagik the "kick in the ass", he desperately needs it. Oh how sad I am having to read such things happening. Armenia can be such a better place to live if we only get rid of these corrupted motherf....ers!
15. Harutkyan21:33 - 16 November, 2012
I totally agree with Iwan. Nothing will change. All Armenian that would be willing to stand up and fight are in diaspora and have left the coutnry. Those that have remained are cowards. Sorry for being so direct - but that is the truth.
16. Budapest01:35 - 17 November, 2012
Found out about this story from Twitter and got curious. What would you expect if you go in bed with Gagik alikes? He is a criminal, everyone knows. And everyone knows that he is protected from top level. So its quite amazing that this case was even allowed to enter an Armenian court. I am sure it was only for PR - Sad to say but that German will never really win, the judge will never do ANYTHING Gagik would not agree to. Cool story but this is Armenia: Dont put your money in if you cannot stand to get ripped off.
17. Pyuzant14:42 - 18 November, 2012
Ays Gagik isvatz mart,Haysdani mec "King" aveli King yegere,mehg,ammen gortzi mec anuni uni, inc gortz ga ne Hayasdani mec,,ayn bayman ays gentaniyin anuni ,minag aniga yev Governmenti mec ashadog president ten prne,anor yegpayrnneri,minag anunov Hayeri Hayasdani guden,bidi limintzinen,asong amenen kesh Dacigen aveli kesh en,havadatzek,marti hayasdanin ASDVATZ yehere,,unbeliveble...I never imagine mer Hayutyuni ays cap Slave ilalov ABRIL guzeyin, Hayasdani mec!!!!,,
18. karine09:30 - 19 November, 2012
Ս. Լաքսհուբերը նշում է, որ ինքը ներդրումներ չէր անի և չէր շարունակի ներդրումներ անել մինչ օրս, եթե չտեսներ Հայաստանի մեծ պոտենցիալը` իր օժտված, բարձր կրթություն ունեցող երիտասարդ սերնդով. «Հայաստանը իսկապես հսկայական պոտենցիալ ունի, և դա կարող է բարձրացվել: Սակայն որպեսզի դա արվի, Հայաստանը պետք է հարգի և երաշխավորի օտարերկրացիների նվազագույն իրավունքների պաշտպանությունը, այլապես Հայաստանը չի կարող դիտարկվել որպես գրավիչ երկիր»: Սա հասկանալու համար պետք է խելք ունենալ......ինչ ասես.ամեն մեկին տրված չէ
19. Վանիկ Ալեքսանյան14:14 - 19 November, 2012
Մոռացե՞լ եք Պեպոյի մենախոսությունը. էս ոսկի պատերը որ սարքել ես, ո՞ւմ փուղերով ես սարքել. հազար ինձպեսներուն թալնիլ ես... Ս. Լաքմհուբերը թալանվածներից ընդամենը մեկն է։ Ծառուկյանը նույն հաջողությամբ քցել է ամերիկաբնակ գործարար Գեւորգ Նարինյանին, ով կնոջս հորեղբայրն է։ Վերջինս 8 հազար դոլարի բաժնետոմս էր գնել Կոտայք գարեջրի գործարանից։ Երբ եկել էր շահաբաժին ստանալու ժամանակը, Ծառուկյանը պատասխանել է, թե գարեջրի գործարանը եկամուտ չու նի, որ քեզ շահաբաժին տամ։
20. Iwan12:09 - 20 November, 2012
@hetq: Спасибо!
Leave a comment
Thank you for your comment. Your comment must be confirmed by the administration.

Latest news

All news

Most popular