YEREVAN – A judicial panel has rejected a prosecution appeal seeking to reclaim a prominent business center from a parliamentary member’s family, allowing the property to remain in private hands.
The Court of Appeals on Tuesday upheld a lower court’s January decision that denied the Prosecutor General’s Office’s attempt to revoke ownership rights to the Sil Plaza business complex and transfer the property to state control.
Judges Gor Harutyunyan and Gor Torosyan reviewed the prosecution’s arguments over a six-month period before determining that the initial ruling should stand.
The commercial complex, located in Yerevan’s city center, is owned by GRZO PLAZA LLC, which is controlled by legislator Khachatur Sukiasyan and his relatives. The property originally transferred to private ownership in 1994 for approximately $5,655.
Authorities have opened a criminal investigation regarding the privatization of the Sil Plaza premises, though law enforcement officials have not disclosed specific details about the ongoing probe.
