Calvi clings to Artyom Avetisyan's family assets in Italy

Baring Vostok asked the court to arrest the assets of Vostochny Bank shareholder Artem Avetisyan and his sister in Italy, an investment fund with a businessman in a corporate conflict over bank control.
06.02.2020
Forbes
Origin source
Evision, the Cypriot structure of Baring Vostok, tried to seize property of Vostochny Bank shareholder Artem Avetisyan and his sister in Italy, RBC reports citing a lawsuit and court decisions.

According to the publication, the lawsuit was filed in support of another case in Cyprus, in which Evision brought Avetisyan, minority shareholders of Vostochny Sherzod Yusupov and Yuri Danilov and others to claim $ 37.7 million. A claim for damages was filed on December 19, Baring claims Vostok include conspiracy, violation of the terms of the contract and participation in a criminal case against the founder of the investment fund Michael Calvey and a number of his colleagues, RBC lists.

Evision decided to appeal to the Italian court because it suspected Artyom Avetisyan of trying to hide his assets in the country and protect them from Evision. As the company indicates, since 2013, Avetisyan has owned seven real estate properties and two land plots in Italy. Their value is estimated at between € 14.3 million and € 20.7 million, the lawsuit said. Since 2017, Avetisyan owns the company Immobiliare Roma S.r.l, which is headed by his sister Anna Avetisyan, adds RBC.

According to Evision, Avetisyan has taken a number of actions in recent months to lower the value of his assets. In December 2018, he sold to Anna Avetisyan 91% of Immobiliare Roma for € 2 million, despite the fact that the assets of the enterprise are more than € 19 million, said Evision. Therefore, she asked to declare the transaction invalid. Immobiliare Roma director Natalya Kiseleva told RBC that the company had a debt of € 18.6 million. In addition, Evision indicated that Avetisyan transferred all his Italian property to his mother in May 2019.

The real estate of Artem Avetisyan in Tuscany with a total value of € 20 million last summer was reported by the Italian news agency ANSA. Back in 2017, the publication Il Tirreno wrote that Avetisyan purchased a € 17 million villa of the 17th century Fanini in the suburbs of Lucca. The villa was built at the beginning of the XVII century by the Arnolfini family. The building contains frescoes by Italian artists Joacchino Pizzoli and Angelo Michele Colonna. The area of ​​the villa is 1400 square meters. m, adjacent to the park - 16,000 square meters. m

Lucca's court on January 8 granted the request of Evision to impose interim measures on 91% of the Immobiliare Roma, which Avetisyan sold to his sister, recognized RBC. But the court refused to arrest the assets belonging to the businessman. Lawyer Anna Avetisyan told RBC that the decision to seize the stake in the company has already been challenged.

Baring Vostok and Finvizhn Artem Avetisyan are in a corporate conflict over control of Vostochny Bank. The reason for the dispute was the option for a 9.99% stake in the bank, the second contradiction between the companies concerns the additional issue of bank shares for 5 billion rubles. Michael Calvey and several other Baring Vostok employees are under house arrest or in jail. Calvi linked the persecution precisely with the conflict with Avetisyan, a businessman denies this. By court decision, the controversial option was transferred from Evision to Finvizhn Avetisyan: now Baring Vostok owns 41.6% of Vostochny.