ArmInfo. The Parliament of Armenia at the plenary session on November 13 in the second and final reading amended the Civil Code.
Presenting the draft document, RA First Deputy Minister of Justice Rafik Grigoryan noted that the bill provides for streamlining the process of collecting the subject of pledge.
In particular, it was proposed to establish that the court may suspend the process of collecting the pledge if the pledgor provides sufficient ensuring potential losses of the pledge holder, but not more than the value of the subject of pledge to compensate for possible losses of the pledge holder. In other words, the judicial authority will have the right to suspend the collection process if the pledger provides adequate security commensurate with the probable losses of the pledge holder, but not more than the value of the pledge.