Feb 15, 2013

"Armavia" finds information on VTB action to be altered

"Armavia" national airways consider information of the Russian media that VTB bank brings in an action against Armenian businessman Mikhail Baghdasarov's "Armavia" and Mika Limited (registered in Jersey Island) for USD 22 million, to be altered. As reports "Armenpress" the Press Service of "Armavia" stated: "We do not comment on information, which is apparently altered."
In accordance with the information of Russian "Izvestia" periodical VTB bank wants to get back the amount of money it gave to the air transportation company for refinancing the credit funds. The company received the credits to buy Russian Sukhoi Superjet-100 aircraft. A number of lawyers find that the bank has good chances to win, and the procedure, which launched in Jersey, is doomed to collapse. Mikhail Baghdasarov told "Izvestia" that “the credits will be paid off soon, and the action will be repealed."

Source: armenpress.am

$22 million lawsuits filed against Armenian Armavia and Mika Limited

Russian Bank VTB filed a $22 million lawsuit against Armavia and Mika Limited; both belong to the Armenian businessman Mikhail Bagdasarov.
The Russian state-owned bank is trying to return the sum it has allocated to refinance loans taken by Armavia for purchase of the Sukhoi Superjet-100 aircraft, 7or.am reported, referring to Izvestia.
In an interview with the publication, a source close to the State Bank said that the proceeding against Armavia (for $ 10 million) has been lodged with the Armenian State Arbitration Court. Mika Limited, in its turn, is going to face a proceeding over $12 million at the Royal Court of Jersey, where the company has been registered.
According to the source, the VTB's Armenian branch had allocated over $7 million to Armavia with the purpose of refinancing a loan the company had received from Ardshininvestbank for purchasing a Superjet-100 airliner (nearly $ 30 million).
Lawyers believe that the VTB has good chance of winning in a dispute with the Armavia.

Source: trend.az