The right to conduct site development activity of the territory with the surface of 127.8 m2 of the first floor of the complex and of the territory with the surface of 108 m² of the second floor of the complex located at 36/3 Koghbatsi Str., city of Yerevan and the right of the common shared ownership of the land plots corresponding to the mentioned surfaces shall be gratuitously transferred to the Republic of Armenia as a compensation of obligations not fulfilled by “Sohocenter” LLC.

The settlement agreement was concluded between the Prosecutor’s Office of Yerevan city and Sohocenter LLC, respondent under the civil case pending before the Anti-corruption Court of Appeal. On April 15, 2024 the settlement agreement was registered at the Anti-corruption Court of Appeal.

By the settlement agreement Sohocenter LLC admitted that the “Property alienation and pledge” agreement concluded between Sohocenter LLC and Hasmik Poghosyan, Former Minister of Culture of the Republic of Armenia on December 3, 2012, didn’t stem from decision N 1052-A of the Government on “The investment project for the construction of multifunctional complex “World of Books” located at № 36 Yeznik Koghbatsi Street, Yerevan” adopted on July 26, 2012.

Let us remind that, under the criminal proceedings it was found out that the territory with the surface of 300 m² provided to Yerevan specialized secondary music school named after Tchaykovski for gratuitous use and located at 36 Koghbatsi Str., city of Yerevan was embezzled.  Particularly, in 2012 a false investment project was submitted to the Government of the Republic of Armenia with the total value of AMD 800 million on the construction of “World of Books” multifunctional complex, and the land plot with the surface of 300 m² (with the market value of AMD 166 million 103 thousand) provided to Yerevan specialized secondary music school named after Tchaykovski for gratuitous use and located at 36 Koghbatsi Str., city of Yerevan was embezzled. In the scope of the mentioned criminal proceedings, the of the proceedings related to Hasmik Poghosyan, former Minister of Culture of the Republic of Armenia was separated and submitted to the Anti-corruption court.

Under the settlement agreement, Sohocenter LLC admitted that it failed to implement the agreement they reached—construction of “World of Books” multifunctional complex, and undertook the obligation to gratuitously transfer the right to conduct site development activity of the territory with the surface of 127.8 m2 of the first floor of the complex and of the territory with the surface of 108 m2 of the second floor of the complex located at 36/3 Koghbatsi Str., city of Yerevan and the right of the common shared ownership of the land plots corresponding to the mentioned surfaces to the Republic of Armenia as a compensation of unfulfilled obligations.