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Kristine Aghalaryan

Iranian Company Drops Bankruptcy Suit Against Nairit Rubber

On April 25, The Iranian company SandbadTir INTL Transport Co.LTD dropped its suit to have Armenia’s Nairit Plant declared bankrupt.

On the following day, Yerevan’s Shengavit Court of First Instance officially closed the court case which had been postponed on four separate occasions.

The court also ordered the seizure of 500,000 AMD in unpaid state fees from the Iranian company.

SandbandTir had argued that Nairit Rubber owed it US$27,000 in a caustic soda supply issues going back seven years.