The Economic Court of Gyumri, Armenia, met the Government“s US$ 700 claim against the T.I.E.M.G.I. company, which has bought the Gyumri-Glass plant. According to Tigran Gevorkyan, head of the Legal D…
The Economic Court of Gyumri, Armenia, met the Government“s US$ 700 claim against the T.I.E.M.G.I. company, which has bought the Gyumri-Glass plant. According to Tigran Gevorkyan, head of the Legal Department of Armenia“s State Property Management Ministry, the company has failed to pay for the plant“s stock and to repay it debts. The company“s manager has simply disappeared and is now wanted. Gevorkyan did not specify the details of this strange deal. Unofficial sources believe that after signing the contract the manager simply realized that investing US$ 155,000 in the plant would be unprofitable because of high electricity rates.