ARMENIA REPUDIATES OWNER RIGHT OF "ARARAT" MOSCOW BRANDY FACTORY

December 21, 2001 - 21:02 AMT
PanARMENIAN.Net - Armenian Government has made a decision to pass the shares of "Ararat" Moscow Brandy Company owned by the state to creditors, to whom the enterprise owes a big sum. Moscow "Levko" bank will become the new proprietor of the factory to all appearance. The Minister of Agriculture is charged to arrange the deal. The procedure of the company bankruptcy will be stopped as a result of this. The Government has also charged to solve the question of renaming the enterprise. This is conditioned by the contract obligations to the owner of Yerevan Brandy Company - "Pernod Ricard" French company, which is the owner of "Ararat" trademark and name.
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