The Armenian government will pay US$280,000 to international law firm Steptoe & Johnson to represent its interests in an investment arbitrage suit dating to 2012.

Edmond Khudyan, a U.S. real estate investor, filed a case against Armenia at the International Centre for Settlement of Investment Disputes claiming that he was swindled by his local business partner in a Yerevan real estate deal and that Armenia’s officials and courts did nothing to investigate and correct the alleged fraud.

In November 2021, the tribunal dismissed Khudyan’s $10.7 million claim against Armenia.

Khudyan, who owns Arin Capital Investment LLC, is now looking to partially annul the tribunal’s decision.

In October 2012, Khudyan , a United States citizen, wrote to then U.S. Ambassador to Armenia John Heffern asking for the embassy’s assistance in the case.

Khudyan maintains that he was swindled out of $8.5 million by his local business partners.

Khudyan, at the time, accused Armenia’s Prosecutor General’s Office and State Revenue Committee of complicity in the case.