Armenia faces $1.5B in claims in international arbitration

Four arbitration cases have been filed against Armenia, with total compensation claims amounting to $1.5 billion, according to Armenian media citing the government, Report informs.

The claims involve several companies and individuals, including:

• Walnort Finance Limited, a shareholder in the Zangezur Copper-Molybdenum Combine

• Amulsar Investor Ventures LLC, a shareholder in Lydian International

• Sanitek S.a.r.l., Sari Haddad, and Elias Doumet, former operators of waste management services in Yerevan

• Air Arabia, the airline and co-founder of FlyArna

The cases are currently being reviewed by international arbitration courts.