AMOUNT OF MONEY SEIZED BY SERVICE FOR COMPULSORY ENFORCEMENT OF COURT DECREES TRIPLES IN FIRST HALF OF 2009
Noyan Tapan
September 7, 2009
Yerevan
YEREVAN, SEPTEMBER 7, NOYAN TAPAN. The number of acts of execution sent
to courts by the Service for Compulsory Enforcement of Court Decrees
(CECD) grew considerably in the first half of 2009. According to the
press service of CECD, there were 42,743 proceedings in the indicated
period compared to 31 thousand in the previous six months. The amount
of the seized sums of money almost tripled. The amount of property
put up to electronic auction doubled: as of June 1, 2008, property
of a total of 151 million drams was auctioned, whereas as of June 1,
2009, its value exceeded 340 million drams (about 920 thousand USD).
In the words of Head of CECD Analysis and Inspection Unit Robert
Minasian, the growth in the number of acts of execution from the
banking system was especially significant – in connection with
nonrepayment of loans. There was also an increase in sums seized
in favor of phone operators, as well as the sums seized from legal
entities in the form of salary arrears.