The Karapetyan family filed a lawsuit against the Armenian authorities for $500 million

Family of arrested businessman Samvel Karapetyan filed a multi-million lawsuit against Armenian authorities in the case of nationalization of the energy company

As reported by TUT.AZ, the family of entrepreneur Samvel Karapetyan has appealed to international arbitration demanding compensation for the attempted nationalization of "Electric Networks of Armenia" CJSC. This information appeared in an official statement by Karapetyan's rights defense council on Facebook.

"The Karapetyan family is asking the arbitration court to oblige the Republic of Armenia to compensate for both the damage already caused and the expected damage," the publication states.

According to preliminary estimates, the amount of damage is valued at an impressive sum - 500 million dollars.

On June 18, Karapetyan was charged with public calls for the seizure of power in the republic. On the same day, a court in Yerevan arrested the entrepreneur, who has Russian citizenship, for two months. On July 3, the National Assembly of Armenia passed a law giving the government the right to nationalize Karapetyan's company "Electric Networks of Armenia".

However, on July 23, the situation changed dramatically - Karapetyan won in an international arbitration process against the Armenian government in connection with attempts to nationalize his company. The court ordered the Armenian authorities to refrain from applying the provisions of the recently adopted law to the company. In addition, they must abandon further steps to confiscate Karapetyan's enterprise.