The Stockholm arbitration tribunal has granted in full a key procedural request submitted by the Armenian government in the case brought against Armenia by Liormand Holdings Limited and the Karapetyan family over the Electric Networks of Armenia (ENA).
According to a June 16, 2026 decision, the tribunal approved Armenia’s motion for bifurcation of the proceedings, allowing jurisdictional issues to be examined separately at a preliminary stage before consideration of the merits of the case.
The Armenian government had argued that the tribunal lacks jurisdiction to hear the claims. The tribunal found sufficient grounds to review all of Armenia’s jurisdictional objections during the initial phase of the proceedings.
Among Armenia’s key arguments is the claim that the Karapetyans do not meet the definition of an “investor” under the relevant international agreement. The government also argues that the claimants failed to comply with the requirements set out in Article 9(2) of that agreement.
The decision paves the way for the tribunal to consider jurisdictional questions at an earlier stage and potentially dismiss all claims brought against Armenia without proceeding to a full examination of the merits of the case.
