Law 12:36 27/07/2022 Armenia

Judge presiding over ZCMC case under pressure – Pastinfo

Judge Anahit Tumanyan, who is presiding over the Zangezur Mining vs. Zangezur Copper-Molybdenum Combine (ZCMC) case, is facing pressure, Pastinfo reports, citing its sources.

“She is not only threatened with possible punitive measures, but also being blackmailed. The female judge is threatened with the disclosure of information concerning her personal life as well as the release of a video recording, which could also affect her family relationships,” the media outlet says.

Former Russian Health Minister Mikhail Zurabov, who owns 12.5% of the ZCMC shares, sued the mining giant, asking the court to invalidate the sale of its 60% shares to Russian billionaire Roman Trotsenko’s GeoProMining Gold.

On September 30, 2021, Industrial Company JSC, a wholly owned subsidiary of Trotsenko's GeoProMining, mysteriously acquired 60% of the ZCMC shares and promptly donated a quarter of that stake to the Armenian government. The granted 25% of the shares make up 15% of the ZCMC equity. Trotsenko’s company acquired the shares immediately after they were unfrozen by an Armenian court.

The judge was expected to issue a ruling in the case last week, but it was postponed.

Pastinfo says the government experts studied the court case and concluded that the Zangezur Mining's claim was well grounded, while any meddling in the case would have negative consequences both on the investment environment and in international courts, where the government is highly likely to lose huge sums. Nevertheless, Roman Trotsenko’s lobbyists seem to have won the debates, and it was decided to force the court to dismiss the lawsuit at all costs.”

“To our knowledge, the judge has been warned that there is an intimate video the release of which is not in her family's interests. Instead, she has been assured that if she rules in favor of the government, they will forget not only about the tape, but also will help her promote and make it to the Supreme Judicial Council,” Pastinfo says.

“As reported earlier, a top American official urged Nikol Pashinyan "not to flirt" with oligarch Roman Trotsenko, who is among those sanctioned by the U.S. But in recent years, Trotsenko and a number of senior Armenian officials have been linked by various ties, the severance of which seems to frighten officials, and they are trying to safeguard the 2021 corrupt deal at all costs. Whereas, the government, according to our diplomatic sources, has been warned that a number of American and European institutions are monitoring Trotsenko's move to take over Armenia's mining sector.

“The much-debated court case is in fact about "screwing" the minority shareholder of the Zangezur Copper-Molybdenum Combine and taking away their business. And the outcome of the case is a benchmark, as foreign experts say, which would make it clear to European and American investors whether a number of vital rights of minority shareholders are protected or not.

“With regard to the other minority ZCMC shareholder, the government, which is represented by the Armenian National Interests Fund, as we have already reported, its participation in the management of the combine is an imitation. At least, we have not received any evidence to the contrary from ANIF.

“Actually, in the light of the above said, "Don't flirt with Trotsenko" has much deeper meaning, while "flirting" may have much worse and far-reaching consequences, as, under Nikol Pashinyan’s rule, the attitude of the oligarch of Russian origin towards a minority shareholder of the ZCMC and ignoring their legal interests, from the perspective of foreign investors, in particular American and European, is of fundamental importance in terms of ensuring their own business interests in the Republic of Armenia and that's where the Shoe pinches,” the media outlet wrote.



Source Panorama.am
Share |

Related news

Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

11:00
Lemkin Institute 'disturbed' by violent dispersal of protesters, journalists in Yerevan
The Lemkin Institute for Genocide Prevention said in a statement that it was "disturbed" by the violent dispersal...
17:07
Lawyer accuses Armenian government of repression after search at GG office
Human rights lawyer Ruben Melikyan accused the Armenian government of repression following a search at the office of GG, an online taxi service...
16:45
Temperatures to rise further in Armenia
Showers and thunderstorms coupled with strong winds are expected in some regions of Armenia late on Saturday and in the next few days. Hail...
16:36
Kate Middleton makes first public appearance since cancer diagnosis
Kate Middleton waved to the crowd from Buckingham Palace's balcony, in her first public appearance since her cancer diagnosis earlier this...
16:14
Opposition MP: Pashinyan ready to sacrifice even his closest associates
Opposition MP Tigran Abrahamyan has brushed aside Prime Minister Nikol Pashinyan’s statements on the Artsakh people and leaders, accusing...
15:36
Jennifer Lopez is 'over' trying to salvage doomed marriage to Ben Affleck
Jennifer Lopez is 'over' trying to make her marriage with Ben Affleck work, a source has told DailyMail.com. Amid furious rumors...
15:16
Protest movement in Armenia hasn't fizzled out, archbishop claims
Archbishop Bagrat Galstanyan claims the protest movement led by him aimed at ousting Armenian Prime Minister Nikol Pashinyan and his government...
14:30
Armenian church commemorates discovery of St. Gregory the Illuminator's relics
The Armenian Apostolic Church commemorates the discovery of the relics of St. Gregory the Illuminator on Saturday 15 June. It is one of the...
14:07
LIVE: Authorities searching GG office in Yerevan
Armenia's Investigative Committee is searching the office of the taxi service GG in Yerevan. Lawyers have called the search...
13:36
Armenian authorities search office of GG taxi service
The Armenian Investigative Committee on Saturday raided the office of the online taxi service provider GG in Yerevan, lawyer Arsen Babayan...
13:04
Pashinyan congratulates Rishi Sunak on public holiday
Armenian Prime Minister Nikol Pashinyan on Saturday sent a congratulatory message to UK Prime Minister Rishi Sunak on the occasion of the public...
12:46
WHO chief says many people in Gaza facing 'famine-like conditions'
The head of the World Health Organization (WHO) said on Friday that many people in Gaza were facing "catastrophic hunger and famine-like...
12:36
Human rights activist reports mass arrests in Armenia
Human rights activist Ruben Melikyan reports that Prime Minister Nikol Pashinyan’s regime has ordered mass arrests in Armenia. ...
12:15
Political analyst: Pashinyan was ready to order tougher measures against protesters
Political analyst Hrant Melik-Shahnazaryan claims Prime Minister Nikol Pashinyan was ready to order tougher measures against protesters outside...
11:35
Amnesty International: Violence during street protests in Yerevan must be investigated
Reacting to reports of violent clashes between protesters and police in Armenia’s capital Yerevan, which resulted in numerous injuries and...
11:15
Serzh Sargsyan follows games of Stepan Avagyan Memorial
Armenian Chess Federation President Serzh Sargsyan and First Vice-President Smbat Lputian on Friday came to the tournament venue to follow the...
11:00
Catholicos Aram I seeks support from Vatican for release of Armenian prisoners in Baku
During his meeting with Pope Francis at the Vatican, His Holiness Catholicos Aram I of the Great House of Cilicia expressed his deep gratitude...
19:10
EventHub.am is the official ticketing agent for the concert of the world renowned Black Eyed Peas in Tbilisi
EventHub․am platform has become the official ticketing agent in Armenia for the concert of the world-renowned Black Eyed Peas to be held in...
17:05
Reporter brutally beaten at Yerevan protest remains in hospital
Journalist and outspoken government critic Abraham Gasparyan, who was brutally beaten by special police officers while being detained at a...
16:45
Céline Dion vows to return to stage
Céline Dion has no intention of letting her health struggles get in the way of her career, HuffPost reports. The five-time...
16:33
Japanese violinist wins Khachaturian International Competition
Japanese violinist Tomotaka Seki has won the top prize at the 20th Khachaturian International Competition. Sergei Mkrtchian of Russia came...
16:05
Armenia sends protest note to Belarus
Armenia has issued a protest note to Belarus following the statements of its official, the Armenian Foreign Ministry reports. “A note...
15:53
Armenian contract soldier found dead
An Armenian contract soldier was found dead at his combat post early on Friday morning. The Defense Ministry reported that the...
15:36
Senior ARF members detained in Armenia
Senior members of the Armenian Revolutionary Federation (ARF) were detained on Friday after the law-enforcement authorities searched its offices...
14:55
Armenian MP reacts to false Azeri accusations of border fire
Opposition MP Tigran Abrahamyan has reacted to Azerbaijan’s latest false claims that Armenian forces opened fire at its combat positions...
14:15
Donald Trump celebrates 78th birthday
Donald Trump turns 78 on Friday, a milestone that will remind voters that the two major-party candidates running for U.S. president this year...
13:52
Armenian health minister defends police actions against protesters
Armenian Health Minister Anahit Avanesyan has defended the police after bloody clashes with demonstrators outside the parliament on June...
13:05
Lawyer responds to U.S. Embassy statement on protests in Yerevan
Lawyer Gevorg Danielyan called out the U.S. Embassy in Armenia for failure to condemn the police crackdown on peaceful protesters in Yerevan on...
12:30
No one waits for Armenia to join EU, Russian official says
The West has no intentions of inviting Armenia to join the European Union (EU) and Ukraine should not expect it in the near future as well,...
12:15
Euro 2024 kicks off tonight
The 17th European Football Championship will begin on Friday night with Germany and Scotland's match at Munich's Allianz Arena. The...

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}