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"Please take me as hostage": Supporters of Daredevils of Sasoun have new slogan for today's protest

Armenia's NSS established identity of person who made false alarm on terror threat on July 27

Beeline continues registering participants of "Eurasia Mobile Challenge" local round

66 citizens were detained on July 27, 61 of them released

Anti-crisis group: Armenian authorities' violent actions provoke a wave of civil disobedience

Opposition demands to convey extraordinary session of parliament while most of MPs have gone on holiday to the best foreign resorts

"Daredevils of Sasoun" addresses Diaspora and world community asking condemnation for "unlawful" detention of Alek Yenigomshyan

HRH Yerevan condemns police activities against peaceful civilians, while public organizations demand extraordinary session of parliament

Sources in 102nd Russian military base in Armenia say contract officer disappears from base

Journalist Levon Barseghyan: "Freedom has its Price and I have always paid that Price!"

Oppositionist Alek Yenigomshyan detained on suspicion of supporting "Daredevils of Sasoun"

Health Ministry of Armenia says 14 citizens injured in recent developments in Yerevan still in hospital

Armenian Ombudsperson's Office representatives visit detained citizens

Azerbaijan targets positions in Talish village with grenade launchers

President of Journalists Club "Asbarez" Levon Barseghyan detained

Police of Armenia say almost of detained citizens set free

National Security Service of Armenia leaves open possibility of using force against "Daredevils of Sasoun"

Armenia's Police alarmed over bomb in Zvartnots International Airport

One of medical workers of Ambulance service released from seized building

One of leaders of Founding Parliament Alek Yenigomshyan detained

Arrest chosen as measure of restriction for Pavel Manukyan's son: Manukyan himself launched hunger strike

Leaders of "Founding Parliament" decide to hold protests on Liberty Square

Anti-Crisis group justifies its "mistakes" with intention to avoid bloodshed

Armenian police detaining all citizens passing by Khorenatsi Street near the seized building, foreign citizens among them

National Security Service of Armenia addresses members of Daredevils of Sasoun: The possibility still exists but the time is running out

Yenigomshyan believes in success of oppositionist movement

Representatives of Armenian Ombudsman's office visit Police department in Shengavit district and meet activist Levon Barseghyan

National Assembly of Armenia has not discussed demand to meet with delegation of parliamentarians laid down by "Daredevils of Sasoun"

US Embassy to Armenia calls for immediate release of medical personnel from seized building

"Daredevils of Sasoun" group presented details of last night's firefight: there was sabotage by Police

Yenigomshyan: Doctors are not hostages they are guarantee for satisfying conditions, laid down by Daredevils of Sasoun

Armenian Healthcare Ministry considers impossible fulfillment of armed group's demand on exchange of medical workers who were taken hostages

Yenigomshyan rings alarm: Levon Barseghyan missing since early morning

Economy Ministry of Armenia sees no reasons why Single European Sky is still close for Armenia

"Daredevils of Sasoun" provide details of overnight skirmish: Police resorted to sabotage

James Warlick: Yerevan and Baku agree to expand OSCE monitoring group in Karabakh conflict zone

Medical community of Armenia condemns "Daredevils of Sasoun" for taking 4 medical workers hostage

Police ban citizens from gathering in territory adjacent to seized Police Patrol Service Regiment building in Yerevan

Forecast: No prospects for NATO's expansion into South Caucasus

Armenian human rights defender verifying reports on mass detention of citizens

Armenian human rights defender verifying reports on mass detention of citizens

Two wounded members of armed group "Daredevils of Sasoun" sent to prison hospital

U.S. Embassy in Armenia once again issues a security message for U.S. citizens in Armenia urging them to avoid daily demonstrations

Azerbaijan's drones circling above Karabakh-Azerbaijani Line of Contact

Lives of wounded members of "Daredevils of Sasoun" Pavel Manukyan and his son in danger after past night's skirmish

Police reinforce its positions at Khoreatsi Street

Policemen's actions against Daredevils of Sasoun escalate situation even more

Armenian NSS warns that it has to take stricter actions for preventing new crimes by Daredevils of Sasoun

VTB Bank (Armenia) resumes service of transfers from card to card via Visa Direct system

Ombudsman presented his position and proposals related to events in Erebuni

Regional

Armenian Prime Minister wants to put an end to the conflict between Old Erivan Holding and Unibank

  • by Emmanuil Mkrtchyan

  • Saturday, June 21, 02:40

Armenian Prime Minister Hovik Abrahamyan is determined to put an end to the escalating conflict between Old Erivan Holding and Unibank. Abrahamyan has told journalists that he has recently received for the second time Manvel Ter-Arakelyan, the owner of Old Erivan Holding, and discussed with him the possibility of signing of an amicable agreement.   

The conflict between "Unibank" CJSC and "Old Erivan Holding" LLC has turned from a civil conflict into a conflict of a criminal nature. Both Head of Unibank Vardan Atayan and owner of Old Erivan Manvel Ter-Arakelyan have applied to law-enforcement structures and each of them is lodging a motion to bring his opponent to criminal responsibility. The proceeding is going on at the court of general jurisdiction of Kentron and Nork-Marash administrative districts.        
Manvel Ter-Arakelyan has repeatedly pointed out in his interviews that his company has been declared bankrupt deliberately, hinting at the attempt of hostile takeover of his company by the Bank. However, he has specified no names.   

Hetq.am, a website of the investigative reporters, says that on 25 May 2009 Unibank and Old Erivan Holding concluded a loan agreement, under which the repayment of the principal amount and the interest was to start 2 years later. According to the Holding owner, the Bank e-mailed him two versions of the repayment schedule. One of the versions implied the loan repayment within a comparatively shorter period (nearly 44 mln AMD monthly). The other one stipulated a comparatively longer period (nearly 32 mln AMD monthly). Ter-Arakelyan chose the latter, i.e. the long-term version of loan repayment. The same day the Bank's representatives brought the agreement to him. Ter-Arakelyan signed the document but later he pointed out that he was mistakenly given the first version. 
Afterwards, the Bank itself made sure that it had sent the wrong version to the customer. So, it sent its representatives to Manvel Ter-Arakelyan once again, this time with the second version of the agreement, which he signed and sealed. "Thus, two agreements were concluded, however, only the second one is in force. Moreover, on 25 May, when repayment schedule was launched, the Bank withdrew 32 mln AMD from my account, i.e. as much as required by the second agreement. Moreover, the Bank called my accountant and said that we needn't visit the Bank because they have withdrawn the required sum from my account and that everything is all right. That is to say, they were well aware that the first agreement was not in force", said Manvel Ter-Arakelyan. He added that afterwards another bank offered him refinancing on better terms (at a lower interest rate) and decided to repay the whole debt to Unibank. 

At first, Unibank accepted the offer, but a month later, on June 17, 2014, it sent Old Erivan a paper saying that they had failed to meet their obligations, that is, to pay 44mln AMD on May 25, so, they would have to pay a fine. "They refer to the first agreement, which obliges me to pay 44mln AMD, but why then did they withdraw from my account the sum envisaged by the second agreement? They have left 305,000 AMD on my account. If I actually had to pay 44mln AMD, they should have left no money there and should have told me that I owe them the rest as I didn't have so much on my account," Ter-Arakelyan said. 
He said that based on the first agreement, Unibank CEO Vardan Atayan has complained to the police that he (Ter-Arakelyan) has forged Unibank's seal and his signature so as to swindle money of the bank.  "He claims that my signature and the bank's seal in the second agreement are also forged. And now I have to answer for this false denunciation," Ter-Arakelyan said.

Meanwhile, Unibank says that the owner of Old Erivan has organized this campaign against the bank so as not to pay the loan. 

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