Alen Simonian's Brother's Company, Which Won Hundreds of Millions in Tenders, Has Gone Bankrupt: 'Journalist'

The newspaper 'Journalist' reports that, according to open sources, on January 24, 2025, 'At Company' LLC filed a lawsuit in bankruptcy court against 'Euroasfalt' CJSC, requesting the court to declare 'Euroasfalt' legally bankrupt.

According to documents, this company has two shareholders: Svetlana Poghosyan and Lusik Gevorgyan (the latter registered in Novosibirsk, Russia). The brother of National Assembly Speaker Alen Simonian, Karlen Simonian, became the director of this asphalt concrete production company in March 2021. According to media reports, when registering as director of 'Euroasfalt', Karlen Simonian provided the email address [email protected], indicating a connection with that company as well.

It is worth mentioning that 'TS Construction' was founded in 2019, with the shareholder being Marieta Avagyan, who is based in Yerevan and whose only company is this 'construction' firm. Karlen Simonian has indicated on LinkedIn that he is the deputy director of 'TS Construction'. This company is engaged in concrete production, with testing, organization, and supply conducted in its laboratory. 'TS Construction' has 21 pieces of equipment and 30 specialists, with its concrete mixing trucks being of the Mercedes-Benz Actros brand, which range in market value from $60,000 to $70,000. It employs more than twenty staff members.

Significant sums have been transferred from the state to the company managed by Alen Simonian's brother. On June 17, 2021, 'Euroasfalt' signed a contract worth 368 million drams with the Ministry of Territorial Administration and Infrastructure to renovate the Horom-Artik-Alagyaz highway in Shirak province. Subsequently, under another contract, they renovated highways in the town of Aparan and nearby communities for 287.5 million drams. In 2023, the same ministry, again without a tender, signed a new agreement for the renovation of the Ayntap-Mkhchyan-Artashat-Aygevan highway worth 79 million drams.

When the media began to focus on 'Euroasfalt', in 2023, the female owners of the company decided to remove the brother of the National Assembly Speaker from his position, appointing Lilia Hovhannisyan as the new director. Following this internal 'change of power', the situation for 'Euroasfalt' deteriorated significantly.

'Journalist' learned from the judicial information system that various lawsuits have been filed against 'Euroasfalt', which has won tenders worth billions of drams, ranging from individuals to organizations linked with banks and insurance companies. 'Arins Capital', 'Rogo Insurance', 'Argishti 2', 'Vikan', 'Betonagorts', and 'Sevak Boyajyan' have all approached the court concerning the dealings of 'Euroasfalt'. Currently, although documents show that National Assembly Speaker Alen Simonian’s brother, Karlen Simonian, no longer has ties to 'Euroasfalt', it was reported by 'Journalist' that 'At Company' LLC has filed for bankruptcy, and the case has been assigned to Judge Inga Barsheghyan.