The Administrative Court of Armenia has ruled in favor the lawsuit of Tashir Capital CJSC against the Armenian government, recognizing the existence of a legal relationship of the possibility of alienation of 70% of the shares of the Electric Networks of Armenia (ENA) CJSC by the plaintiff in accordance with the procedure agreed with the latter, based on the proposal of the Armenian government, until May 25.

According to Pastinfo, within the framework of this lawsuit, the aforesaid court also partially granted the motion to secure the lawsuit, temporarily recognizing the possibility of alienation of 70% of the shares of ENA in accordance with the procedure agreed upon based on the proposal of the Armenian government and suspending the three-month period until May 25, during which the sale should be carried out.

ENA is engaged in the distribution of electricity in Armenia based on a license issued by a decision of the Public Services Regulatory Commission of Armenia, and also in the guaranteed supply of electricity in Armenia based on a license issued by another decision.

Tashir Capital CJSC is the owner of about 70% of ENA’s shares.

Tashir Capital had petitioned to the court, in essence, demanding that the three-month period for responding to the Armenian government’s proposal be respected, which should be calculated from the date of official receipt of the respective letter, namely from February 25.

Also, the court considered it necessary to record that the basis for ruling in favor of this lawsuit is also the fact that the defendant did not present a legal position on the terms of calculating the three-month period for the alienation of ENA’s shares of the person deprived of the license in an agreed manner, which the court assesses as the defendant’s acceptance of the facts cited by the plaintiff.

Tashir Capital belongs to the Tashir Group conglomerate, whose chairman is Strong Armenia party leader, Russian Armenian businessman Samvel Karapetyan, who is still in house arrest in Armenia.