Economy 18:38 14/10/2019 Armenia

Sanitek initiates arbitration proceedings against Armenia

Sanitek waste management company plans to submit the dispute with Yerevan Municipality to international arbitration. In statement released on Monday, the company said “as a first step of the procedure, the Shareholder and CEO of Sanitek company Nicholas Tawil, acting on behalf of other shareholder, has officially notified the Government of the Republic of Armenia and Yerevan Municipality about the investment dispute.”

The statement comes weeks after the Yerevan Municipality unilaterally terminated the contracts with the Lebanese-run company for what it said “poor waste disposal services” in the Armenian capital, for being fined twice since the beginning of this year by the city authorities.

To remind, earlier Yerevan Mayor Hayk Marutyan said, they were ready to dispute the case at international arbitration in case Sanitek decides submits the lawsuit.



Source Panorama.am
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