The court upheld IDBank's appeal

12-03-2020 17:44:23   | Armenia  |  Press release

The Court of Appeal, presided by Judge Harutyun Yenokyan
, published the
decision made as  the result of the examination  of the appeal filed by IDBank against the decision of the Court of General Jurisdiction of Yerevan concerning  the case  “BML Arzni'' versus “Anelik Bank” .
Reminder:  On 20.09.2019, the court of general jurisdiction of Yerevan, published the decision concerning the case "B.M.L. ARZNI LLC and Bankruptcy Manager of the same LLC vs. Anelik Bank”, to satisfy the claim for confiscation of an amount equivalent to 22 million USD from the Bank. 
Holding four court hearings, comprehensively examining the case materials and examining the parties' arguments, the Court of Appeal found that the claim of “B.M.L. Arzni” company is groundless and overturned the decision of the Court of General Jurisdiction of Yerevan.
Chairman of the Management Board of the Bank, Mher Abrahamyan expressed satisfaction with the result of the Court of Appeal's comprehensive investigation, adding that they continue to have doubts about the existence of criminal elements in the noted bargain and are preparing materials for the submission of relevant reports.
"We will take consistent steps aimed at preventing such practices and are ready to assist relevant bodies in the field of expertise as well," said Mher Abrahamyan.
Referring to the Bank's development prospects, the Chairman of the Management Board of the Bank noted that the Bank has recently announced the opening of a new conceptual branch, as well as the issuance of the new Visa Signature Card in Armenia, stressing that the Bank, regardless of everything,  overcomes its  digitalization path of development by taking great, steady steps.
Communications Department of IDBank
  -   Press release
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