Verelq: Prosecutor’s Office Demands Confiscation of the “Ayrarat” Cinema Building

The Prosecutor General’s Office has filed a lawsuit demanding the confiscation of the “Ayrarat” (“Rossiya”) cinema building located at 16 Tigran Mets Avenue, Yerevan. The real estate belongs to the family of businessman and former Member of Parliament Khachatur Sukiasyan.
According to the Prosecutor’s Office, the basis for the claim is that the investments worth the equivalent of USD 1 million 550 thousand, stipulated by the privatization transaction aimed at privatizing the aforementioned real estate, were not made by January 14, 2017.
By a decision dated October 5, the Anti-Corruption Court accepted the statement of claim for proceedings. By another decision issued on the same day, an interim measure to secure the claim was applied. In particular, the limited liability company was prohibited from carrying out any action that would lead to a change in the actual or legal status of the real estate located at 16 Tigran Mets Avenue.