Stockholm Arbitration Court Confirms Binding Decision to Ban Expropriation of ENA - Karapetyan Defense Council Responds to Armenian Government
04.08.2025,
23:48
The Stockholm Arbitration Court has confirmed the binding nature of the decision to ban the expropriation of Electric Networks of Armenia CJSC.
YEREVAN, August 4. /ARKA/. The Stockholm Arbitration Court has confirmed the binding nature of the decision to ban the expropriation of Electric Networks of Armenia CJSC. This was stated in a statement by the Samvel Karapetyan Defense Council.
The Armenian government reported on Monday that the emergency arbitrator rejected new claims by shareholders of Electric Networks of Armenia CJSC.
"On July 22, 2025, the emergency arbitrator appointed by the Arbitration Institute of the Stockholm Chamber of Commerce obliged the Government of the Republic of Armenia to refrain from applying the provisions of the recently adopted Laws of the Republic of Armenia "On Energy" and "On the Public Services Regulatory Authority" in relation to the Closed Joint-Stock Company "Electric Networks of Armenia", as well as from further steps aimed at the expropriation of Electric Networks of Armenia CJSC,'- the Council said in a statement.
It is noted that after the publication of the arbitration award, the state bodies of the Republic of Armenia made a number of statements, noting that the decisions of the emergency arbitrator cannot be executed by the Government of Armenia, and in order to be executed in the territory of the Republic of Armenia, they must be recognized by the courts of the Republic. In addition, the Republic of Armenia continued to take steps aimed at the expropriation of ENA. In particular, the government=appointed interim manager of ENA dismissed and continues to dismiss key employees and directors of the branches of the company, violating the decision of the emergency arbitrator.
"In this regard, on July 29, 2025, Samvel Karapetyan and his family again applied to the Emergency Arbitration Court with a request to amend the decision made on July 22 and provide the Government of the Republic of Armenia with additional clarifications that the latter is obliged to implement the arbitration award and restore the status quo that existed on the date of the investors' first appeal, as well as oblige it to submit a report on the measures taken to implement the award. On August 4, 2025, the Emergency Arbitration Court decided not to consider the issue of the need to amend the previously adopted decision, reiterating that the decision it made on July 22 is already subject to mandatory and immediate execution by the Government of the Republic of Armenia," the Council said in a statement.
On July 22, the Defense Council for Samvel Karapetyan, entrepreneur and owner of Electric Networks of Armenia CJSC, informed that Karapetyan and his family won the emergency arbitration proceedings against the Government of the Republic of Armenia in the case of the nationalization of Electric Networks of Armenia. It is noted that the court prohibited the RA government from confiscating or selling the assets of ENA, changing the composition of ENA's management bodies, revoking ENA's licenses and in any way restricting the company's natural business activities.
In response, the Armenian government stated that the appointment of a temporary manager of ENA does not contradict the decision of the Stockholm Arbitration Court and is aimed at preventing crises and identifying violations in the company's operations.-0-
The Armenian government reported on Monday that the emergency arbitrator rejected new claims by shareholders of Electric Networks of Armenia CJSC.
"On July 22, 2025, the emergency arbitrator appointed by the Arbitration Institute of the Stockholm Chamber of Commerce obliged the Government of the Republic of Armenia to refrain from applying the provisions of the recently adopted Laws of the Republic of Armenia "On Energy" and "On the Public Services Regulatory Authority" in relation to the Closed Joint-Stock Company "Electric Networks of Armenia", as well as from further steps aimed at the expropriation of Electric Networks of Armenia CJSC,'- the Council said in a statement.
It is noted that after the publication of the arbitration award, the state bodies of the Republic of Armenia made a number of statements, noting that the decisions of the emergency arbitrator cannot be executed by the Government of Armenia, and in order to be executed in the territory of the Republic of Armenia, they must be recognized by the courts of the Republic. In addition, the Republic of Armenia continued to take steps aimed at the expropriation of ENA. In particular, the government=appointed interim manager of ENA dismissed and continues to dismiss key employees and directors of the branches of the company, violating the decision of the emergency arbitrator.
"In this regard, on July 29, 2025, Samvel Karapetyan and his family again applied to the Emergency Arbitration Court with a request to amend the decision made on July 22 and provide the Government of the Republic of Armenia with additional clarifications that the latter is obliged to implement the arbitration award and restore the status quo that existed on the date of the investors' first appeal, as well as oblige it to submit a report on the measures taken to implement the award. On August 4, 2025, the Emergency Arbitration Court decided not to consider the issue of the need to amend the previously adopted decision, reiterating that the decision it made on July 22 is already subject to mandatory and immediate execution by the Government of the Republic of Armenia," the Council said in a statement.
On July 22, the Defense Council for Samvel Karapetyan, entrepreneur and owner of Electric Networks of Armenia CJSC, informed that Karapetyan and his family won the emergency arbitration proceedings against the Government of the Republic of Armenia in the case of the nationalization of Electric Networks of Armenia. It is noted that the court prohibited the RA government from confiscating or selling the assets of ENA, changing the composition of ENA's management bodies, revoking ENA's licenses and in any way restricting the company's natural business activities.
In response, the Armenian government stated that the appointment of a temporary manager of ENA does not contradict the decision of the Stockholm Arbitration Court and is aimed at preventing crises and identifying violations in the company's operations.-0-
