Settlement of the year: Armenian court approves amicable settlement of Armenian-Austrian business dispute

16 April, 2014www.1in.am

The 6-year-long litigation between Afin Leasing AG, a leading Austrian leasing company and “Spayka” LLC Armenian freight company ended in an amicable settlement. Public Relations Department of “AM” law firm reported that on April 15, 2014 the Armenian court approved the amicable settlement prepared by “AM” law firm.
Since 2006 Afin Leasing AG had leased IVECO vehicles to “Spayka” LLC. However, Afin Leasing AG had been seeking to receive its lease payments since 2009 and with this end in mind, Armenian courts tried three court cases. After a number of failures, about a year ago Afin Leasing AG applied to “AM” law firm.

As a result of complex and diligence work done in Armenian courts “AM” lawyers eventually succeeded in getting the due lease payments made to their foreign client. Managing Partner of “AM” law firm Grigor Minasyan, noted: “As a result of the amicable agreement achieved due to our firm’s lasting work, all the debts have been paid to an international leading company, whereas the Armenian company is now free of a heavy financial burden.”

Chief Legal Adviser Rosa Stepanyan and Senior Legal Adviser Gohar Gevorgyan were leading this court case.

Source: http://am.am/arm/news/157/tarva-hashtutyun-hay-avstriakan-biznes-vetchy-lutsvel-e-haykakan-dataranum.html

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