US real estate

Real estate investor seeks to revive $10.7m Armenian claim

By Caroline Simson (April 15, 2022, 9:20 p.m. EDT) – A real estate investor who blamed Armenia for not doing enough when he was allegedly defrauded by a local business partner is seeking to partially reverse a November award 2021 denying him his $10.7 million claim against the former Soviet state over a citizenship issue.

The International Center for Settlement of Investment Disputes said on Wednesday it registered the motion for partial annulment filed by Edmond Khudyan. As a result, enforcement of the award, which includes an order requiring Khudyan to reimburse Armenia more than $737,000 in costs and expenses, has been suspended for the time being.

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