YEREVAN. – The affairs of ruling Republican Party of Armenia former MP and businessman Tigran Arzakantsyan are not going well in Armenia, reported Haykakan Zhamanak daily.

“By a decision of the court (…), Great Valley Company[, which produces brandy,]belonging to Tigran Arzakantsyan was declared bankrupt on February 27 this year.

“Incidentally, on July 9 this year, [and] by a decision of the court (…), his Ashtarak’s Wines plant located in Oshakan village [in the Aragatsotn Province] also was declared bankrupt.

“But he has businesses outside Armenia, too. For example, it is known that he has purchased a plant in recent years in the French city of Cognac,” wrote Haykakan Zhamanak.