Court Declares Former Minister Bankrupt, Apartment Put Up for Auction

The former Vice President of the Republican Party of Armenia, a member of the National Assembly of the 5th convocation, and former Minister of Emergency Situations, Mher Shahgeldyan, has been declared bankrupt by a court ruling. He was unable to repay a loan of over €30,000 obtained from Ameriabank, resulting in the impending loss of his apartment, which was pledged to the bank.

According to a public notice regarding the auction, it is scheduled for May 27 of this year. The pledged apartment is located on the first floor of a four-story building on Mashtots Avenue in Yerevan and has an area of 85.7 square meters. The starting price of the apartment has been set at 55,200,000 AMD.

It is worth noting that the former official's failure to fulfill his obligations under the loan agreement became known to the public last year when Ameriabank filed a lawsuit to declare Shahgeldyan bankrupt. In November 2020, the court granted the bank's request.