Minister Surbuhi Galyan Addresses International Court Decision on HEC

International arbitrations are alternative mechanisms for dispute resolution. When we joined certain conventions, we committed to comply with the decisions of international arbitration tribunals. This was stated by the Minister of Justice Surbuhi Galyan during a press briefing, addressing the decision of the international arbitration regarding HEC.

According to her, a bilateral investment agreement is applicable in this case, which has a specific procedure for recognizing arbitration tribunal decisions in case of disputes. “The arbitrator's decision references the relevant New York Convention, according to which a party has the right to appeal to the domestic court of the Republic of Armenia to have the arbitrator's decision recognized, and only after that it becomes enforceable. Domestic legislation and international conventions provide a possibility to not implement that decision if it contradicts public order. The entry of a temporary administrator into HEC is pursuing a different goal than what is described in the application of the opposing party; the aim was to avoid a potential crisis,” Galyan said.

It is worth noting that Samvel Karapetyan and his family have won the urgent arbitration case initiated against the Government of the Republic of Armenia.