Arakel Movsesyan Declared Bankrupt: Details

The former Republican Party of Armenia MP Arakel Movsesyan has been declared bankrupt by a court decision. The bankruptcy court has also imposed a lien on Movsesyan's property. This was reported by 1Lurer.am.

The demand to declare the former MP bankrupt was filed by Ameriabank. Arakel Movsesyan owes the bank more than 26 million drams, which he has been unable to repay.

The court's decision has not been appealed within the legally established timeframe. Previously, during the investigation phase, the court had declared a manhunt for Arakel Movsesyan and his property, but that decision was later revoked.