The Constitutional Court ruled that the final judicial act issued against the company was subject to revision on the basis of the appearance of a new circumstance, since the courts applied the law with a wrong interpretation:
The company on the basis of an agreement on the pledge of real estate against the obligations of the production cooperative "Kar-Prince" in the amount of AMD 70 million in 2008. as a result of the construction works carried out by CJSC, the area of the production building at the specified address increased and amounted to 3704.7 sq. m. Property rights were registered, after which the property was no longer mortgaged and was not the subject of collateral .:
In August 2009, Prometheus Bank, without applying to the court, extended the foreclosure to property that is not the subject of collateral.:
CJSC "Production and Printing" filed a lawsuit against the State Cadastre Committee with a demand to invalidate the state registration of the property right of LLC "Prometheus Bank". The Court of Cassation, based on the bank's complaint, reversed the decision and dismissed the claim:
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