Court of General Jurisdiction of Shengavit Administrative District, under the presiding judge Armen Chichoyan, issued a verdict on 28 November which declares Nairit Plant CJSC bankrupt, thus approving the lawsuit filed by Electric Networks of Armenia (ENA) CJSC.
In addition to declaring bankrupt, the judge has also decided to confiscate 500.000 AMD in favour of the ENA as a compensation of the state fee paid by the claimant in advance.
The court has stated that according to the inspection act of mutual settlements Nairit Plant is obliged to pay 12.35.003.232 AMD, out of which 159.278.876 AMD makes up the fine. It is also mentioned that according to the certificate presented by the acting general director and general accountant of Nairit Plant in April 2015 the assets’ residual of the plant totalled to 57.039.533.906 AMD.
Afterwards the court found that there are sufficient grounds to declare the debtor bankrupt.
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The court has also registered that within the investigation of the mentioned case, both the claimant and the debtor filed motions for many times arguing that negotiations were underway between ENA and Nairit. The sides filed motions on 8 and 11 November respectively to reset the court session claiming that all the ways of settling the dispute through conciliation are useless.
Pursuant to the decision made by the court on 16 November, the court session was set on 28 November. On 24 November the sides filed motions asking to hold the court hearing without their presence.
