We have pulled out of one minority investment in the Armenian Development Bank.
The court managed to ask Ostinvestor attorney Davit Danielyan a few questions pertaining to the case which dates back several years.
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”.
A Yerevan court order Gagik Tsarukyan’s “Yerevan Ararat Brandy-Wine-Vodka Factory” (YABWV) to pay Stefan Laxhuber, the CEO of the German investment firm “Ostinvestor”, 14.8 million AMD ($36,662) in compensation in a case that dates back to 2009.
Judge Arayik Melkoumyan failed to deliver a verdict yesterday in the case pitting the German company “Ostinvestor” against Gagik Tsarukyan’s Yerevan Ararat Brandy/Wine/Vodka Factory (YABWV).
German businessman Stefan Laxhube told Hetq that he was not pleased with an Armenian court’s examination of his legal suit against Gagik Tsarukyan, alleging that the defendant has exerted pressure on the court.
Stefan Laxhube, CEO of the German investment firm “Ostinvestor” says he’s prepared to wage a long- term legal struggle against Prosperous Armenia Party head Gagik Tsarukyan for swindling his company out of shares it purchased in the “Yerevan Ararat Brandy-Wine-Vodka Factory” (YABWV).
Anikom has found that the Armenian MP/business mogul should have paid the German portfolio investment firm Ostinvestor $600,000 in a controversial 2008 consolidation stock takeover.
In May, 2006, the German company “Ostinvestor” purchased 1,520 shares of the “Yerevan Ararat Brandy- Wine-Vodka Factory” (YABWV). This amounts to 3.2% of Ararat’s outstanding shares.