Nagorno-Karabakh president temporarily cancels seizure of debtors’ property

YEREVAN, October 19. /ARKA/. According to paragraphs 1 and 3 of a decree signed today by Nagorno-Karabakh president Samvel Shahramanyan, Nagorno-Karabakh Chief Enforcement Officer cancelled the seizure orders applied to the property and funds, confiscated in favor of the state and community budgets, state and community non-profit organizations and the foundations established by the state and communities.

The decree also provides that amounts forfeited after September 20, 2023 in favor of the above entities shall be returned before January 1, 2024.

"The removal of the prohibitions does not exempt debtors from the fulfillment of obligations. This is a temporary measure aimed at alleviating the social problems of our compatriots forcibly displaced after September 19," the Nagorno-Karabakh Information Center said.

After the large-scale aggression of the Azerbaijani armed forces on September 19, Nagorno-Karabakh authorities accepted the proposal of the command of the Russian peacekeeping contingent for a ceasefire.

Fearing persecutions Nagorno-Karabakh residents left their homes and moved to Armenia.

Nagorno-Karabakh president signed a decree to dissolve all state institutions and organizations under their subordination before January 1, 2024. By that time the Nagorno-Karabakh Republic is to cease to exist. -0-