SHAREHOLDER OF DOGHAGORTS 1 COMPANY BRINGS SUIT AGAINST ARMENIAN GOVERNMENT BEFORE LONDON COURT OF INTERNATIONAL ARBITRATION

Noyan Tapan
Jun 01 2007

YEREVAN, JUNE 1, NOYAN TAPAN. In accordance with the decision made
by the Armenian government at the May 31 sitting and the RA Law on
Prosecutor’s Office, the RA ministry of trade and economic development
was reserved the authority to protect the interests of the Republic
of Armenia in connection with the suit brought against the RA by
TS Investment Corp.- shareholder of Doghagorts 1 OJSC (Tyre Plant)
before the London Court of International Arbitration.

NT was informed from the RA Government Information and PR Department
that the RA minister of trade and economic development was reserved
the right to sign, with the aim of ensuring the protection of rights
of the RA in connection with the above mentioned suit, an agreement
with legal advisor – Manatt, Phelps & Philips company. It is noted
that Doghagorts 1 company’s shareholder TS Investment Corp. was to make
investments of 12-13 million dollars in Armenia but it wants to decline
to fulfill its obligations. For this reason TS Investment Corp. has
brought a suit before the London Court of International Arbitration.

From: Emil Lazarian | Ararat NewsPress