YEREVAN. – The conflict between Armenia’s Hayastan shopping center and Ameriabank is not yet resolved. The attorneys of the Hayrapetyan brothers, who own the shopping center, have appealed the recognition of the bank’s property rights to the shopping center, in return for delaying US$ 10-million loan obligations, Hraparak daily writes.   

And the daily has found out why the Hayrapetyan had received that loan and how they could not pay the loan back despite their flourishing business. It became apparent that the Hayrapetyan, together with a partner, had decided to purchase a gold-diamond mine in Africa, and they had taken the loan for that purpose. The daily’s source notes that the mine is in Sierra Leone. The bank loan was to be used for the operation of that mine. And the problems arose, in August of last year, during the repayment of this very loan, Hraparak writes.