Stockholm’s arbitration tribunal has partially upheld demands filed by the legal team of businessman Samvel Karapetyan, blocking state takeover efforts against his energy company but rejecting other requests.
According to Armenia’s Office of the Representative for International Legal Matters, Karapetyan’s lawyers appealed to the Arbitration Institute of the Stockholm Chamber of Commerce (SCC), seeking his release from pre-trial detention and urging the court to prohibit Armenia from rearresting him.
They also requested an order barring authorities from prosecuting or threatening employees and executives at any Tashir Group companies—such as Tashir Capital, the Electric Networks of Armenia (ENA), or Tashir Pizza—and stopping any raids or seizures tied to these entities’ facilities or staff.
The tribunal denied both these demands in its July 22 ruling.
However, it upheld the third claim, obliging the Armenian government to immediately suspend all actions related to the nationalization of ENA, including management changes, license revocation, or property seizure.
Karapetyan and Liormand Holdings initiated the arbitration on July 11, citing a 1995 Armenia–Cyprus investment protection agreement. The tribunal accepted the case and issued an emergency interim decision on July 22, halting the nationalization. Both parties are now required to initiate the main proceedings within 30 days and form a permanent tribunal within 90 days.
Karapetyan was arrested shortly after publicly voicing support for the Armenian Apostolic Church on June 17—a move followed by Facebook posts from Prime Minister Nikol Pashinyan and law enforcement action against Karapetyan’s businesses.
Founded in August 2020, Armenia’s legal office handles the country's interests in international disputes, including investment arbitrations.
