On March 27 at the RA Commercial Court the proceedings on the suit of "Ardshinbank" versus "Aravot" daily started. As it has already been reported, the bank demands to oblige "Aravot" to pay ,000 as compensation for the damage caused by a number of articles published by the newspaper (see YPC Weekly Newsletter, March 8-14, 2003). According to the bank management, these publications caused the annulment of its deal with "Converse Bank". At the session "Aravot" filed a counter-claim – demanding to acknowledge the agreement on the deal of the two banks invalid, as its signing violated the RA Law "On Banks and Banking Activities" and other legal and normative acts.
The next court session is to be held on April 10.
