The story of beating Arsen Avetisyan, the 51% shareholder of the “Air Armenia” company, as told by his wife, by the order of Ruben Hayrapetyan because of the debt, is increasingly getting obscure raising a number of questions, the answers to which may be revealed by the law enforcement agencies or not.
Arsen Avetisyan’s wife, Isabella Melkumyan, announced that the beating started by Ruben Hayrapetyan from the conversation of demanding the debt. The “Air Armenia” owed 2.5 million dollars to “Taron-Avia” and the owner of “Taron-Avia”, Garnik Papikyan, had chosen Hayrapetyan to be a mediator for receiving this amount. Arsen Avetisyan’s wife told “Aravot” that a few days prior to the incident, there was a Hayrapetyan-Papikyan-Avetisyan meeting on the same subject, and they agreed to have the 2nd meeting on August 15, the day of the incident. It is noteworthy that 3 days prior to August 15, the East Prospect Fund, representing the 49% shareholder of “Air Armenia”, debited 68.6 million dollars securities to the “Air Armenia” balance. A day before the beating, the “Air Armenia” issued a statement about this contribution, which said, “The contribution made is the property of the “Air Armenia” CJSC and can be disposed by the company upon necessity and purpose. As a result of implemented deal, the “Air Armenia” CJSC purchased a safeguard measure, at the same time, complementing the organization’s balance sheet and increasing its capital value. The major achievement of the deal is that the only air carrier “Air Armenia” Airline Company is secured from the risk of bankruptcy and other financial risk situations.”
This means that on August 15, at a meeting with Ruben Hayrapetyan, Arsen Avetisyan could tell with confidence that his company has 68.6 million dollars, of course, in the form of securities, but if necessary, they can be sold at the stock, get the money, and use them for repayment of the debt. In other words, Arsen Avetisyan could pay the 2.5 million dollar debt to Papikyan, the owner of “Taron-Avia”, more precise, to “Ala International” company owned by the same person, only he must be given time. And if Avetisyan is solvent, then it is strange, as said by his wife, to kick and beat him by eight people. Or, Ruben Hayrapetyan considers himself so unpunishable that arranges almost the second Vahe Avetyan incident and can allow himself to beat a person allegedly Avetisiyan opposed that he owes not to Hayrapetyan but the “Ala International” and is ready to pay this sum (this was told to Aravot by Avetisyan’s wife in our previous issue, N.B.), or, Hayrapetyan had other debts.
Yesterday, the East Prospect Fund, the 49% shareholder of “Air Armenia”, issued a statement saying that it is concerned about the incident with Arsen Avetisyan, as well as mentioned, “We have assumed the responsibility for the company’s investment policy, the company’s debts and liabilities, including over the 250 employees and partner organizations, which are the long-run best partners of the “Air Armenia”. The recent events may jeopardize the investment programs of the “Air Armenia” company, as well as the reforms underway. Therefore, we ask the parties and the representatives of the authorities to find a legal solution to the problem for the given situation.” In other words, the East Prospect Fund also says that it is responsible for the company’s debts, but at the same time, it also hints that the investment of 68.6 million dollar securities is at stake.
The “Air Armenia”, in addition to 2.5 million dollars debt to “Ala International”, owes to many other companies, about which we have written in the August 18 issue of “Aravot” entitled “Was the beating advantageous to Avetisyan?” Given the circulated rumors that a deliberate actions are made against the only air carrier company to “seize” the “Air Armenia” from Avetisyan’s hands, then who needs a company with a huge number of debts, if, of course, they do not lead this company to bankruptcy, but in this case too, the bankruptcy should be advantageous to Avetisyan. Because if someone appeals to the court with a claim of bankruptcy, and the court using all the procedures chooses a bankruptcy manager, etc. will make a decision to recognize the company insolvent, then “Air Armenia” has almost nothing to sell except for the 68.6 million dollar securities. And the nominal value of each security is AMD 100 while the market price is indeed 50% less associated with the recent incident, which actually affected the company’s reputation.
Perhaps, declared insolvent, not all the company’s debts could be covered. To the point, it is not excluded that the studies may reveal that this 68.6 million dollar were merely a statement, actually, there is no transaction to the company’s account. Note that the East Prospect Fund is an offshore company.
It is also noteworthy that the East Prospect Fund made the investment three days prior to the Arsen Avetisyan- Ruben Hayrapetyan meeting, when the airline is accumulating debts for a long time and is even unable to pay the wages of the pilots. Interestingly, why the East Prospect Fund did not make the investment earlier, let’s say, last year, for which as assured by a bit “obscure” seemed Foundation, bear the responsibility for the debts of the “Air Armenia”. Eventually, the debt of reaching tens of millions of dollars is not accumulated in one month, and if the investment of made earlier, the debts would be repaid earlier, and perhaps the incident with Avetisyan could be prevented, if, of course, the reason actually is this 2.5 million dollars.
Nelly BABAYAN,
“Aravot” daily
