The Karapetyan family filed a lawsuit against the Armenian authorities for $500 million

The family of arrested businessman Samvel Karapetyan has filed a lawsuit against the Armenian authorities regarding the nationalization of the company CJSC "Electric Networks of Armenia".

As reported by BAKU.WS, this is stated in the announcement by the council for the protection of Karapetyan's rights, published on the social network Facebook.

"The Karapetyan family demands that the arbitration court oblige the Republic of Armenia to compensate for both the damage already caused and the expected damage," the publication notes.

According to preliminary estimates, the amount of damage is $500 million.

On June 18, Karapetyan was charged with public calls for the seizure of power in the republic. On the same day, a court in Yerevan arrested the entrepreneur, who has Russian citizenship, for two months. On July 3, the National Assembly of Armenia passed a law giving the government the right to nationalize Karapetyan's company "Electric Networks of Armenia".

However, on July 23, Karapetyan won an international arbitration process against the Armenian government in connection with attempts to nationalize his company. The court ordered the Armenian authorities to refrain from applying the provisions of the recently adopted law to the company. In addition, they must abandon further steps to confiscate Karapetyan's enterprise.