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A law is not a law without coercion behind it
  

2019-08-02 15:19 Davit Beginyan gives speech at international conference being held in Moscow

2019-08-01 16:07 Acting Chief Compulsory Enforcement Officer of the Republic of Armenia Davit Beginyan on a working visit to Moscow

2019-07-22 12:17 Compulsory Enforcement Service informs
Compulsory Enforcement Service
Chief Compulsory Enforcement Officer of the Republic of Armenia
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Forced Electronic Auction
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The Second and Subsequent Forced Electronic Auctions
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The Second and Subsequent Forced Electronic Auctions
  1. On the third working day following each frustrated forced auction, a notice on subsequent auctioning of the lot shall be posted on the ոebsite.
  2. If the frustration of the Auction is due to the absence of buyers or failure to increment the starting price, the starting price of the lot at the subsequent Auction shall be decreased by ten per cent compared to the starting price of the lot at the previous Auction.
  3. If the frustration of the Auction is due to the failure on behalf of the buyer to make the payment or sign the sale contract in due time, the starting price of the lot at the subsequent Auction shall not be decreased.
  4. If the lot is not sold at the second and any subsequent Auction, the claimant, within two working days following the end of the Auction, shall have the right to accept the lot against the claim at the starting price of the Auction. The state bodies acting on behalf of the Republic of Armenia may accept a lot against a claim only if they are authorised to do that. The list of state bodies authorised to accept property against a claim shall be defined by the Government of the Republic of Armenia.
  5. The claimant may submit to the Service a written request for taking the lot against the claim, until the end of the second working day following the day of the frustrated auction. If no such request is submitted or if there are multiple writs of execution for seizure of the property of the same debtor (except for the compulsory collection of the stamp duty), the lot shall not be handed over to the creditors, and the process of auction shall  continue.
  6. The claimant and the compulsory enforcement officer shall sign a contract on transfer of property. Should the starting price of the lot exceed the amount of debt specified by the judicial act, the claimant, prior to signing the contract, shall be obliged to pay the difference between the starting price of the lot and the amount of debt specified by the judicial act to the debtor. The property (the lot) shall be handed over to the claimant after compensation of the enforcement costs by the claimant.
  7. If the lot remains unsold after the sixth auction, the compulsory enforcement officer may sell it directly, in accordance with the procedure specified by Law (except for real property, shares, and cultural values).
  8. After enactment of the Law of the Republic of Armenian "On public bids", the property offered through conventional forced auction shall be offered through electronic forced auction at the same starting price as set in the last auction sales.
  9. The forced auctions specified in Articles 29 to 35 of the Law of the Republic of Armenian "On public bids" shall be organised and conducted in the cases defined by the Government of the Republic of Armenia.
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41a Halabyan str., Yerevan, 0078, Republic of Armenia | Hotline: (+374) 60 570-435 | E-mail: hotline@harkadir.am
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