A large company supplying goods in the Republic of Armenia applied to the “AM” Law Firm with a request for effective debt repayment. The Armavir District Court of First Instance upheld the claims filed by “AM’’ Law Firm in two different cases. In spite of all attempts to appeal the judicial act to the higher courts, the appeals were dismissed and the verdicts were kept unchanged.
Judicial acts were not voluntarily enforced, so they were sent to the RA MoJ Enforcement Service. During the enforcement proceedings, the compulsory enforcement officer did not find any assets and funds as a result of which the enforcement proceedings were terminated.
The “AM” Debt Collection Team began its own "investigation" into the identification of the debtors' assets and funds and transmitted the received information to the RA Judicial Acts Compulsory Enforcement Service proceedings have resumed.
As a result, the debtors repaid part of the debt in excess of 2,500,000 AMD, and for the rest was signed a settlement agreement on the condition of making monthly payments.