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Kristine Aghalaryan

Ostinvestor CEO: Court Verdict was "Ridiculous"

Stefan Laxhuber, the CEO of Ostinvestor, today told Hetq that the March 27 verdict of a Yerevan court regarding his suit against Gagik Tsarukyan’s Yerevan Ararat Brandy-Wine-Vodka Factory (YABWV), was “ridiculous”.

On March 27, a Yerevan court ordered Gagik Tsarukyan’s Yerevan Ararat Brandy-Wine-Vodka Factory (YABWV) to pay   German investment firm Ostinvestor, 14.8 million AMD ($36,662) in compensation in a case that dates back to 2009.

 Laxhuber said that he was finally expecting something rational. 

We are very disappointed and are currently discussing the verdict” Mr. Laxhuber told Hetq.

The German CEO said Ostinvestor would take the matter to the European Court of Human Rights and was confident of winning since the right of ownership had been severely violated in Armenia.