YPC Weekly Newsletter

2003


"A1+" AND "ARMENIA" TV COMPANIES RECONCILED

On July 21 at the RA Commercial Court the consideration of the suit filed by the founder of "A1+" TV company "Meltex" versus "Armenia" TV with a demand for a refutation started. As it has been reported, the suit was filed on June 26 and referred to the appearance of the President of "Armenia" TV Bagrat Sargsian on the air of "Zham" newscast on June 9. The head of "Armenia" hinted in particular on “the secret political funding” that "A1+" gets and informed that the representatives of the benevolent Kafesjian fund with a group of financial and technical experts were unpleasantly surprised at the scarcity of the material and technical resources of the TV company. The plaintiff qualified this information as untrue and damaging the business reputation of "A1+" (see YPC Weekly Newsletter, June 20-27, 2003).

At the session of August 21, one month after the hearings a reconciliation agreement was signed. Thus, the suit was revoked and the parties refrained from all the possible claims to each other and the third parties.