Any decision made by emergency arbitrator is binding on parties — Siranush Sahakyan

In the global context, there is a problem of protecting property rights, Siranush Sahakyan, President of the Center for International and Comparative Law, told Alpha News, referring to the international arbitration decision regarding the Electric Networks of Armenia (ENA).

“In this case, we are dealing with an investment dispute, given that the company’s owners are not only citizens of Armenia but also have significant business interests abroad. And investments made in Armenia are protected by bilateral agreements,” Sahakyan noted.

She stressed that any decision made by the emergency arbitrator is binding on all parties involved.

“It should be noted that arbitration proceedings follow specific rules. If you examine the regulations of the Arbitration Institute of the Stockholm Chamber of Commerce, you will see that it is clearly stated that arbitration decisions concerning interim issues are binding and must be implemented by states,” she added.

According to Sahakyan, failure to comply with this decision will lead to legal consequences.

“But it doesn’t end there. There is also a reputational issue,” Sahakyan emphasized.