Moscow arbitration court rules that Armavia recover 13.5 million rubles debt to Russian Vnesheconombank

Moscow arbitration court rules that Armavia recover 13.5 million rubles debt to Russian Vnesheconombank

YEREVAN, April 23. / ARKA /. The Moscow Arbitration Court has ruled today that former Armenian airline Armavia recover about 13.5 million rubles debt to Russian Vnesheconombank (VEB), RIA Novosti reported.

The court’s ruling is based on an action of the bank demanding 16.5 million rubles from the airline.

According to VEB, in 2011 the bank commissioned PricewaterhouseCoopers and Vegas-Lex auditing firms to consult it in preparation of a leasing agreement with Armavia which wanted to purchase two Sukhoi SuperJet- 100 aircraft.

Under the agreement the airline was obliged to reimburse all the costs. The bank paid 14.8 million rubles to the two firms and sent the bills to the airline. In 2012, the airline paid only 1 million rubles and made no further payments. 

An airline representative argued that the bank had violated the deadline for submission of the draft agreement, which was three months. He also claimed that the services were rendered improperly. In 2012, the airline refused to receive the loan of the bank.

Armavia was the first company to order Sukhoi SuperJet- 100. But in 2012, it said it was going to halt its operation. It also refused to buy another aircraft. 

The company owned by Russian-Armenian businessman Mikhail Bagdasarov carried out flights to more than 40 cities in Europe, the former Soviet Union and the Middle East until April 1, 2013. -0-

15:48 23.04.2014

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