Mika sporting facility placed under management of Armenian finance ministry
28.08.2014,
15:27
Mika sporting facility in Yerevan, owned by businessman Mikhail Baghdasarov, will be placed under the management of the Armenian ministry of finance, deputy finance minister Pavel Safaryan said at a government session today.
YEREVAN, August 28. / ARKA /. Mika sporting facility in Yerevan, owned by businessman Mikhail Baghdasarov, will be placed under the management of the Armenian ministry of finance, deputy finance minister Pavel Safaryan said at a government session today.
Under a government decision adopted today, the ministry of finance is proposed to acquire the facility in exchange for the tax liabilities of 9.045 billion drams of Armavia airline and Mika Corporation if these properties are not sold through compulsory auctions.
The initial value of the complex put up for sale on August 25th by the Service for Compulsory Enforcement of Judicial Acts is a little over 9 billion drams (about $22 million).
Safaryan said today that Armavia owes more than 7.1 billion in various taxes, while Mika Corporation has to pay 365.3 million drams. He said both companies have also other liabilities.
He noted that the future fate of the sports complex and the possibility of its use have not been determined yet.
The total area of the complex built in 2008 is 3,658.9 sq.m. Its stadium has 7250 seats. The complex is owned by businessman Mikhail Bagdasarov. Bagdasarov also owned Armavia airline that suspended flights from 1 April 2013 to begin the bankruptcy proceedings. ($ 1 - 410.20 drams). -0--
