OSTINVESTOR VS. YEREVAN BRANDY TRIAL POSTPONED
Kristine Aghalaryan

2010/02/23 | 15:17

Court

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.