PanARMENIAN.Net - On December 24, 2025, the Stockholm Arbitration Tribunal fully rejected the motion filed by Liormand Holdings Limited, Samvel Karapetyan, Eteri Karapetyan, Sargis Karapetyan, and Karen Karapetyan (the "Claimants") regarding the Electric Networks of Armenia (ENA) case.

The motion had requested the tribunal to confirm Armenia's alleged non-compliance with the July 22, 2025 ruling by the Emergency Arbitrator (Case No. EA 2025/121), to reinstate ENA's license and management, terminate the mandate of the temporary administrator, and block any forced sale or disposal of ENA's shares or assets.

The tribunal denied all these requests, concluding that the provisional measures sought by the Claimants were unfounded.

It further ruled that the Claimants must bear all costs related to the motion's review.

According to the tribunal, the ruling ensures that future decisions will be based on a full assessment of all relevant evidence, in line with its jurisdiction and applicable legal standards.

The Government of Armenia welcomed the decision, emphasizing that such rulings should be made by the full tribunal and not an emergency arbitrator.

Armenia reaffirmed its commitment to participating in the arbitration process with professionalism and respect while firmly defending its interests and continuing constructive cooperation with both the Claimants and the tribunal.

On July 22, 2025, the Emergency Arbitrator at the Stockholm Chamber of Commerce had issued a decision ordering Armenia to refrain from enforcing provisions of the recently adopted energy laws and halting any steps toward expropriating ENA.

Source: PanArmenian.Net