Benefits Ruben Hayrapetyan first
NA Deputy, businessman Ruben Hayrapetyan purchased "Bjni", but not the right to export water. So, the decision of the Administrative Court to declare the auction/sale of the assets and rights to assets of the "Bjni" factory was first of all to the benefit of the buyer," told "A1+" advocate of the "Bjni" company Ara Zohrabyan who explained his reasoning.
"The Service for Compulsory Enforcement of Judicial Acts had sold not only the assets, but also the rights to those assets. However, due to lack of knowledge of the law on mining extraction, the service had not appealed to the authorized body and had not received preliminary permission. Thus, by purchasing the assets of "Bjni" the buyer did not have the right to export the water. The right to export still belonged to the "Bjni" company. The law clearly states that the contract, that is, the deal on the mining right, means nothing if the buyer is not going to have the opportunity to extract the mines."
After the "Bjni" auction, the Sukiasyan family appealed to the authorized body and it turned out that the buyer-Ruben Hayrapetyan-doesn't have the right to export water because he had to get permission before purchasing "Bjni" at the auction. Zohrabyan believes that Hayrapetyan was going to have problems if the Service for Compulsory Enforcement of Judicial Acts did not know about the law.
"If the verdict is not appealed, the SCEJA must file for bankruptcy. This means that the court will take the assets of the company, hand it over to the owner and start the process of filing for bankruptcy," told "A1+" Ara Zohrabyan.
Justice Minister Gevorg Danielyan also touched upon the fate of the "Bjni" company after the auction was declared invalid. According to Danielyan, the invalid auction doesn't mean that everything goes back to the way that it was. Advocate Zohrabyan believes that regardless of officials' statements, "Bjni" has only one road to take after the court's verdict and that road leads to bankruptcy.
"Bjni" was sold for a second time on February 5 for a reserve price of 4 billion 441 million 358 thousand drams.
