Multi Wellness complex to challenge Yerevan Municipality`s decision  to prematurely terminate lease agreement in court

ArmInfo. The "Multi Wellness Complex" will challenge the decision of the Yerevan  municipality to prematurely terminate its lease agreement through the  courts.  This is reported on the judicial information website  Datalex.am. 

A representative of Multi Wellness is asking the court to invalidate  the transaction concluded by the Yerevan Mayor on June 8, according  to which the municipality unilaterally terminated the contract signed  with arrested businessman Gagik Tsarukyan. Gagik Tsarukyan's lawyer  also demands that the court invalidate the cadastral decision by  which the construction right for "Multi Wellness" was terminated on  July 14, and the property was fully registered as community property  of Yerevan.

The Yerevan Municipality terminated the lease agreement with  Tsarukyan a few weeks ago. Over the past weekend, Mayor Tigran  Avinyan announced the resumption of the complex's operations under a  new name and its transfer under the control of the capital's  authorities. Meanwhile, the company had leased the land with  construction rights until 2065 in accordance with a land lease  agreement concluded in 2016 with the city authorities. However,  Avinyan seized from Tsarukyan not only the land, but also the  building and property constructed on it. The case has been assigned  to Judge Arshak Petrosyan, and a hearing date has not yet been  announced.  It was recently reported that other enterprises belonging  to Gagik Tsarukyan, including the Yerevan Brandy, Wine and Vodka  Factory "Ararat" and "Araratcement," were also confiscated by the  state.