Сontract for the sale of "Armenfilm" may be terminated

The future of "Armenfilm" is being discussed at state level.

Nine years ago, the film studio was sold for 350 million drams to CS Film-Studios, owned by the foundaton "Cafesjian Family." Then the company promised to digitize films and to overhaul and reequip the studio. However, as it turned out, over the years the contractual obligations have not been fulfilled, ArmInfo reports.

As noted by the Minister of Culture, Hasmik Poghosyan, a total of 500 films were to be digitized. However, to date only 380  films have been digitized, while about 50 of them demonstrate some technical problems.

With regard to investment in the logistical base of "Armenfilm" (for this CS Film-Studios pledged to allocate 10 billion drams for 10 years), according to Pogosyan, the State Property Committee is engaged with this issue.

Assessing the prospects of admitting the contract of the sale of "Armenfilm" as invalid, the Minister says: "I think that everything is possible if contractual obligations are not fulfilled. But let's not be too quick. Now, in terms of the performance and non-performance of obligations, the contract package is being studied from the legal point of view."