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 | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |