Is there anyone who thinks Lydian has not violated the terms of the contract? Ara Papyan

diplomat Ara Papyan has written on his Facebook page: ‘Are there grounds for canceling the contract with Lydian Armenia? Of course, there are, and they are enshrined in clause 6.3.1 of the contract. That is, ‘At the initiative of the authorized body, in case of violation of the terms of the contract by the subsoil user.’

Is there anyone who believes that the subsoil user—in this case, Lydian—has not violated the terms of the contract? Even a cursory examination shows that it has.

Let me state that the basis of the contract was the ‘Republic of Armenia Civil Code, the Law on the Republic of Armenia and other legal acts.’ There is no reference to international legislation or international arbitration in the contract.

I should also mention that the contract was signed on September 26, 2012, between the Minister of Energy and Natural Resources of Armenia, Armen Movsisyan (the authorized body), and the representative of the subsoil user, Geotim LLC, Haik Aloyan. Lydian Armenia did not yet exist.

Only in the document dated August 18, 2016, were the words Geotim LLC replaced with Lydian Armenia LLC. This document was signed by the Minister of Energy and Natural Resources of Armenia, Levon Yolyan, and Geotim LLC represented by Haik Aloyan.