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March 28
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YEREVAN. – The Electric Networks of Armenia (ENA) Company has applied to the court with a request that the Nairit [Chemical] Factory Company be declared bankrupt, reported Zhamanak daily.

“To our query [of] why the ENA has not applied to the court with a claim of repayment of its debt, ANC [i.e. opposition Armenian National Congress] Board member [and economist] Vahagn Khachatryan responded that he believes, at the time, the authorities probably petitioned to the ENA [saying] ‘don’t turn off the electricity of Nairit,’ and this move by the ENA means that the management of the company is offended by the RA [i.e. the Republic of Armenia] authorities, since informal agreements have been violated, and now it [i.e. the ENA] faces problems.   

“Or it hopes that by being the first to apply [to the court] with a bankruptcy claim, it will be able to get its debt the earliest,” wrote Zhamanak.

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