Yerevan court awards Ucom’s motion to apply interim measureAugust 14, 2020 - 18:44 AMT PanARMENIAN.Net - On August 13, Yerevan First Instance Court of General Jurisdiction partially awarded Ucom CJSC’s motion to apply interim measure to the extent that prohibited TEAM LLC to conclude an acquisition transaction of Veon Armenia CJSC shares and submit for registration the rights arising from the transaction, said the Galaxy Group of Companies, of which Ucom is a member. Ucom CJSC filed a claim with Yerevan First Instance Court of General jurisdiction against TEAM Limited Liability Company requesting to confirm that in the existing conditions the use of undisclosed information possessed by Ucom CJSC in the negotiation on the acquisition by TEAM LLC of Veon Armenia CJSC shares and the violation by the TEAM LLC founders of the fiduciary obligations against Ucom CJSC is an unfair competition, as well as requested to oblige TEAM LLC to stop unfair competition. "Ucom requested to apply an interim measure, particularly prohibit TEAM LLC to conduct negotiations on conclusion of acquisition transaction of Veon Armenia CJSC shares as well as conclude the negotiated acquisition transaction of Veon Armenia CJSC shares (sign the transaction and submit for registration the rights arising from the transaction), the company said. "Taking into consideration the peculiarities of the case Ucom refrains from provision of further information, but in the upcoming stages of the case additional clarifications will be disclosed to the public, if needed." Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |