By the verdict of the Administrative Court, a settlement agreement concluded between the Prosecutor General’s Office, the Cadastre Committee and a third party has been approved, providing for the return to the Republic of Armenia of a 4.95 ha land plot, a 66.1 sq. m guardhouse and a 21.1 sq. m storage building, located in Aygezard village, Artashat community, Ararat region, with a total cadastral value of approximately AMD 97 million.

Once the verdict enters into legal force, the ownership rights to the above-mentioned properties will be registered in the name of the Republic of Armenia.

It should be recalled that, in parallel with the criminal proceedings initiated by the Investigative Committee, the Department of State Interests Protection of the Prosecutor General’s Office filed a claim with the Administrative Court demanding to declare invalid the state registration of ownership, recorded on 12 September 2009 in the name of “Artashat Driving School” LLC of the “DOSAAF of Armenia” NGO, in respect of the immovable properties located in Artashat community, Ararat region.