YPC Weekly Newsletter

2009


“GIND” PUBLISHING HOUSE REVOKED THE SUIT AGAINST THE FOUNDER OF “HAYK” DAILY

On February 20 the publication of “Hayk” daily was suspended. The reason was
the suit versus the founder of the newspaper, “Hayk Editorial Office” LLC, filed
on February 18 by “Gind” publishing house with the Yerevan Civil Court demanding
to pay the liability.
On February 19 as a measure to secure the suit the property and the assets of
the newspaper were arrested. As YPC was informed by the Chief Editor of “Hayk”
Gegham Nazarian, the debt of about 2 million 700 thousand AMD (around $ 9,000)
was accumulated during the period of August-December 2008. In January 2009,
Gegham Nazarian noted, there was an agreement reached with “Gind” to the effect
of continued publishing of the newspaper with the gradual repayment of the debt
till April 1, 2009. According to head of “Hayk”, as of February 9, 2009 the
editorial office paid all the publishing expenses, as well as 400,000 AMD as
debt repayment. Along with this, on February 9 the newspaper changed the publishing
house and started to be issued at “A. Markosian”, where, as “Hayk” Editor mentioned,
the prices were lower.

On February 23, as a result of negotiations between the newspaper and the publishing
house, “Gind” revoked its suit upon the condition of “Hayk” repaying the dept
till April 1, 2009.

At the moment of release of YPC Weekly Newsletter, the publication of “Hayk”
daily has not been resumed.