Arminfo.info



 Thursday, October 30 2014

Isahakyan Gayane

Owner of Old Erivan Holding: From moral point of view, my letter to the President is the last step in my fight against Unibank

Owner of Old Erivan Holding: From moral point of view, my letter to the President is the last step in my fight against Unibank

The open letter I have addressed to President of Armenia Serzh Sargsyan is the last step in my struggle against Unibank's illegality. I hope that the President is not aware of this case and my letter will help me to call the bank to order, Director General of Old Erivan Holding Manvel Ter-Arakelyan told journalists on Thursday.


He said that for five years already he has been trying in vain to prove in court that one day Unibank withdrew as much as 32.455mln AMD ($105,000) from his holding's account without its consent. "A few days later they added us to their blacklist and declared us bankrupt even though we had by then acted for as long as 25 years. I am forced to ask the President for help - for when you try to fight against a network of godfathers and patrons, you are always wrong," Ter-Arakelyan said.


He said that during the last court hearing he was denied the right to defend himself. "Unibank's lawyer pronounced my name for thousands times and they didn't even ask me once if what he said was true. Now I want just one thing: I want them to be unbiased in assessing Old Erivan's property so I can sell it and repay my debts. I had 19 restaurants and now they are all closed as for five years already I have been involved in litigations. I have lots of business offers from Europe and Russia, so, I will continue to work. But I will not make any investments in a country where a businessman is not allowed to develop his business," Ter-Arakelyan said, adding that he is going to appeal to the European Court of Human Rights.


To remind, on 25 May 2009 Unibank and Old Erivan Holding concluded a loan agreement, under which the repayment of the principal amount and the interest was to start 2 years later. According to the Holding owner, the Bank e-mailed him two versions of the repayment schedule.  One of the versions implied the loan repayment within a comparatively shorter period (nearly 44 mln AMD monthly). The other one stipulated a comparatively longer period (nearly 32 mln AMD monthly). Ter-Arakelyan chose the latter, i.e. the long-term version of loan repayment. The same day the Bank's representatives brought the agreement to him. Ter- Arakelyan signed the document but later he pointed out that he was mistakenly given the first version. 


Afterwards, the Bank itself made sure that it had sent the wrong version to the customer. So, it sent its representatives to Manvel Ter- Arakelyan once again, this time with the second version of the agreement, which he signed and sealed. "Thus, two agreements were concluded, however, only the second one is in force. Moreover, on 25 May, when repayment schedule was launched, the Bank withdrew 32 mln AMD from my account, i.e. as much as required by the second agreement.  Moreover, the Bank called my accountant and said that we needn't visit the Bank because they have withdrawn the required sum from my account and that everything is all right. That is to say, they were well aware that the first agreement was not in force", said Manvel Ter-Arakelyan.  He added that afterwards another bank offered him refinancing on better terms (at a lower interest rate) and decided to repay the whole debt to Unibank. 


At first, Unibank accepted the offer, but a month later, on June 17, 2014, it sent Old Erivan a paper saying that they had failed to meet their obligations, that is, to pay 44mln AMD on May 25, so, they would have to pay a fine. "They refer to the first agreement, which obliges me to pay 44mln AMD, but why then did they withdraw from my account the sum envisaged by the second agreement? They have left 305,000 AMD on my account. If I actually had to pay 44mln AMD, they should have left no money there and should have told me that I owe them the rest as I didn't have so much on my account," Ter-Arakelyan said. 


He said that based on the first agreement, Unibank CEO Vardan Atayan has complained to the police that he (Ter-Arakelyan) has forged Unibank's seal and his signature so as to swindle money of the bank.  "He claims that my signature and the bank's seal in the second agreement are also forged. And now I have to answer for this false denunciation," Ter-Arakelyan said.


Meanwhile, Unibank says that the owner of Old Erivan has organized this campaign against the bank so as not to pay the loan.

POST A COMMENT
Input digits     

Azerbaijanis destroyed Pantheon of Heroes of Stepanakert Azerbaijanis destroyed Pantheon of Heroes of Stepanakert 
Most powerful strategic positions in Tavush are being surrendered;  Constitution`s foundations are being undermined:  Former Justice  MinisterMost powerful strategic positions in Tavush are being surrendered;  Constitution`s foundations are being undermined:  Former Justice  Minister
RA MoD refutes information spread by Armenian social networksRA MoD refutes information spread by Armenian social networks
ANCA calls on US House of Rep  to expel Henry Cuellar over accepting  $598,000 in Azerbaijani bribesANCA calls on US House of Rep  to expel Henry Cuellar over accepting  $598,000 in Azerbaijani bribes
Anahit Manasyan still does not know how legal it is to restrict  rights to freedom of movement in border village of TavushAnahit Manasyan still does not know how legal it is to restrict  rights to freedom of movement in border village of Tavush
The Power of One Dram to the Road of Life Charitable OrganizationThe Power of One Dram to the Road of Life Charitable Organization
Zakharova: Armenia has not taken any new steps regarding CSTO  membership Zakharova: Armenia has not taken any new steps regarding CSTO  membership 
5 criminal proceedings were initiated on facts of torture in Armenia  in 2023 - Prosecutor General`s Office5 criminal proceedings were initiated on facts of torture in Armenia  in 2023 - Prosecutor General`s Office
Vassilis Maragos: Armenia`s media field continues to remain  polarized, despite positive trends in WPFIVassilis Maragos: Armenia`s media field continues to remain  polarized, despite positive trends in WPFI
EAFJD: Constant concessions cannot stop Azerbaijani maximalismEAFJD: Constant concessions cannot stop Azerbaijani maximalism
US reaffirms support for Armenia`s territorial integrity and  sovereignty US reaffirms support for Armenia`s territorial integrity and  sovereignty 
Armenia`s Prosecutor`s Office sends application to prosecute  Pashinyan to NSS Armenia`s Prosecutor`s Office sends application to prosecute  Pashinyan to NSS 
Rights and safety of Tavush population should be considered in border  delimitation and demarcation process - StatementRights and safety of Tavush population should be considered in border  delimitation and demarcation process - Statement
Armenia`s Prosecutor`s Office initiates two criminal proceedings over  Azerbaijan`s aggression against ArmeniaArmenia`s Prosecutor`s Office initiates two criminal proceedings over  Azerbaijan`s aggression against Armenia
Poll: overwhelming majority of respondents in Armenia consider  celebrations dedicated to victory in WWII to be importantPoll: overwhelming majority of respondents in Armenia consider  celebrations dedicated to victory in WWII to be important
Armenia`s legal framework does not sufficiently protect freedom of  press - Reporters without bordersArmenia`s legal framework does not sufficiently protect freedom of  press - Reporters without borders
Armenian Genocide commemoration must be enshrined in Constitution -  poll Armenian Genocide commemoration must be enshrined in Constitution -  poll 
Most of respondents in Armenia not ready to co-exist with  Azerbaijanis- poll Most of respondents in Armenia not ready to co-exist with  Azerbaijanis- poll 
Ardshinbank CJSC has announced about the launch of a new  refinancing business loanArdshinbank CJSC has announced about the launch of a new refinancing business loan
No manifestations of apocalypse in law-enforcers` actions - NA  vice-speaker No manifestations of apocalypse in law-enforcers` actions - NA  vice-speaker 
Georgia turns down US invite for official visit over `pre-condition`Georgia turns down US invite for official visit over `pre-condition`
 Transitional dictatorship in Armenia - opposition MP Transitional dictatorship in Armenia - opposition MP
Not a single door in Armenia can be closed to a clergyman - Vahe  HovhannisyanNot a single door in Armenia can be closed to a clergyman - Vahe  Hovhannisyan
FMs of Armenia, Ukraine discuss current situation in regionFMs of Armenia, Ukraine discuss current situation in region
Armenian parliamentarians meet with Co-chair of Congressional  Armenian Issues Caucus in WashingtonArmenian parliamentarians meet with Co-chair of Congressional  Armenian Issues Caucus in Washington
WFP sees need to change format of assistance provided to Artsakh refugeesWFP sees need to change format of assistance provided to Artsakh refugees
Parliament`s opposition factions invite foreign diplomats to closed  meetingParliament`s opposition factions invite foreign diplomats to closed  meeting
Tatoyan: over 96% of respondents in Azerbaijan consider Armenia`s  Yerevan, Syunik and Sevan to be Tatoyan: over 96% of respondents in Azerbaijan consider Armenia`s  Yerevan, Syunik and Sevan to be "Azerbaijani lands"
Leader of Kamq movement: We have one task - Pashinyan`s resignation Leader of Kamq movement: We have one task - Pashinyan`s resignation 
Actions of authorities pose threat to Armenia`s stability and future  - political scientistActions of authorities pose threat to Armenia`s stability and future  - political scientist
Judge`s illegal actions proof of overt political persecution -  ex-minister of defense Judge`s illegal actions proof of overt political persecution -  ex-minister of defense 
Police actions in Kirants criminal - clergyman  Police actions in Kirants criminal - clergyman  
Struggle continues despite repressions - Suren PetrosyanStruggle continues despite repressions - Suren Petrosyan
Reports on alleged beating of residents detained in Kirants false -  Ministry of Interior Reports on alleged beating of residents detained in Kirants false -  Ministry of Interior 
Developments on Armenia`s borders result of concessive policy -  opposition MP Developments on Armenia`s borders result of concessive policy -  opposition MP 
U.S. Government watchdog group adds Azerbaijan to list of world`s   worst religious freedom abusers U.S. Government watchdog group adds Azerbaijan to list of world`s   worst religious freedom abusers 
Armenia`s premier on basis for Armenia-Azerbaijan border delimitation Armenia`s premier on basis for Armenia-Azerbaijan border delimitation 
"Tavush for the Motherland" movement calls on citizens to continue  acts of disobedience
Armenian authorities` actions in Kirants to have grave consequences -  opposition MPArmenian authorities` actions in Kirants to have grave consequences -  opposition MP
Armenia`s premier expounds on Armenia-Azerbaijan border delimitation  processArmenia`s premier expounds on Armenia-Azerbaijan border delimitation  process
$250mln package proposed for Armenian$250mln package proposed for Armenian
Police forces block roads leading to village of Kirants, bordering  AzerbaijanPolice forces block roads leading to village of Kirants, bordering  Azerbaijan
Armenia, NATO discussing prospects for expanding cooperationArmenia, NATO discussing prospects for expanding cooperation
Azerbaijan, Armenia confirm their participation in negotiations in  AlmatyAzerbaijan, Armenia confirm their participation in negotiations in  Almaty
Armenian, Azerbaijani FMs meeting has not yet been determined due to  lack of response from Armenia to this proposalArmenian, Azerbaijani FMs meeting has not yet been determined due to  lack of response from Armenia to this proposal
Omer Celik: Turkiye to monitor developments around Azerbaijan -  Armenia border agreement Omer Celik: Turkiye to monitor developments around Azerbaijan -  Armenia border agreement 
Peacekeepers` withdrawal from Karabakh continuesPeacekeepers` withdrawal from Karabakh continues
Mirzoyan told Al-Jazeera about Armenian-Azerbaijani normalization,  relations with Russia and expressed his position on situation in Gaza  StripMirzoyan told Al-Jazeera about Armenian-Azerbaijani normalization,  relations with Russia and expressed his position on situation in Gaza  Strip
Europe Nostra Vice President to visit ArmeniaEurope Nostra Vice President to visit Armenia
Acba Bank to start public placement of its next USD, AMD bonds on May  2Acba Bank to start public placement of its next USD, AMD bonds on May  2
Participation of the delegation of Turkmenistan in the 57th session of the UN Commission on Population and DevelopmentParticipation of the delegation of Turkmenistan in the 57th session of the UN Commission on Population and Development
MP: As a result of border delimitation Armenia to receive state  border to protect its sovereigntyMP: As a result of border delimitation Armenia to receive state  border to protect its sovereignty
Hungary blocks European Peace Facility`s support project for Armenia Hungary blocks European Peace Facility`s support project for Armenia 
RAU rector`s office term extended by 4 yearsRAU rector`s office term extended by 4 years
"5165" movement calls on all healthy forces of Armenia to unite for   salvation of motherland
Investigative Committee comments on beating of servicemen who  attended protests in KirantsInvestigative Committee comments on beating of servicemen who  attended protests in Kirants
Italian orchestra ROMA SINFONIETTA to perfom Ennio Morricone`s famous  compositions in YerevanItalian orchestra ROMA SINFONIETTA to perfom Ennio Morricone`s famous  compositions in Yerevan
Armenia`s government making unilateral concessions in Azerbaijan`s  favor - Tavush for the Motherland movementArmenia`s government making unilateral concessions in Azerbaijan`s  favor - Tavush for the Motherland movement
Armenia`s new rep to UNESCO appointed Armenia`s new rep to UNESCO appointed 
Border delimitation supposed to settle problems on other border  sectionsBorder delimitation supposed to settle problems on other border  sections