Emergency Arbitrator Rejects New Claims by Shareholders of Electric Networks of Armenia

YEREVAN — Emergency Arbitrator has rejected new claims by shareholders of Electric Networks of Armenia, the Armenian Government informs.

On July 29, Liormand Holdings Limited, Samvel Karapetyan, Eteri Karapetyan, Sarkis Karapetyan, and Karen Karapetyan (the “Claimants”) submitted a new request to the Emergency Arbitrator appointed under the Arbitration Rules of the Arbitration Institute of the Stockholm Chamber of Commerce.

The Claimants sought to supplement the Emergency Arbitrator’s July 22 decision in case EA 2025/121 with the following:

A declaration that the Republic of Armenia is legally obligated to comply with the July 22 emergency arbitration decision,

An order requiring Armenia to restore the status quo as of July 16, 2025 (the date of the Claimants’ initial application), and

An order requiring Armenia to inform both the Emergency Arbitrator and the Claimants of all actions taken to comply with the decision, including the restoration of the status quo, and to confirm implementation of the provisional measures within the timeframe set by the Arbitrator.

In a decision dated August 3, the Emergency Arbitrator fully rejected the Claimants’ new requests. The Arbitrator concluded that the demands represented new claims not included in the original application and fell outside the scope of the Arbitrator’s jurisdiction and authority to order such provisional measures.

As a reminder, in the July 22 emergency decision, the Emergency Arbitrator had already rejected the Claimants’ initial request to release Samvel Karapetyan from pre-trial detention or to replace it with an alternative measure, as well as their request to prevent legal action against executives or employees of organizations belonging to the “Tashir” Group.

The Armenian Government’s official statement regarding the temporary measure granted by the Emergency Arbitrator related to the Electric Networks of Armenia (ENA) is available here.