BJNI TO CHALLENGE CES ACTIVITIES

A1+
[05:26 pm] 12 January, 2009

Bjni Company of mineral waters owned by the Sukiasyans will be put
up for e-auction on January 23. On December 30 the Northern Court
declared the case hearing of the factory’s bankruptcy closed. But
the Company hasn’t received the court decision yet, Advocate Ara
Zohrabyan informed A1+.

He also noted that the Northern Civil Court has not submitted an
official recognition of Bjni’s bankruptcy. Hence, they don’t know its
contents and the grounds for the pending auction. "We don’t even know
the price fixed for the company’s assets."

Remind that the Compulsory Execution Service put up Bjni’s assets for
auction on December 19 according to RA laws on "Compulsory Completion
of Judicial Acts" and "Public Deals".

On December 18 the Service had received a letter from the Northern
Civil Court informing that Saturn Shinmontaj LLC filed a bankruptcy
suit against Bjni Company. The suit was accepted, and an interim
manager was appointed.

On January 9 the Compulsory Execution Service received another letter
from the Northern Civil Court informing that the case of bankruptcy
of Bjni Company ended with a December 30, 2008 court ruling. The
electronic auction starts on January 23, 2009.

Ara Zohrabyan informed A1+ that they are going to challenge the
activities of the Compulsory Execution Service in the court.