Our Managing Partner Varoujan Avedikian Highlights the Key Legislative Developments for GMRA Documented Transactions
Our Managing Partner Varoujan Avedikian, the author of the Global Master Repo Agreement (GMRA) legal opinion for Armenia presented the highlights of the opinion with regard to the validity of GMRA 2000 and GMRA 2011 under Armenian law during a global webinar organized by the Central Bank of Armenia, Asian Development Bank, International Capital Markets Association, and our firm. Find the link to the webinar below.
Mr. Avedikian suggested that after the publication of the said legal opinion, the Armenian repo markets will open up for GMRA documented transactions. He also stressed that he believes that:
- The GMRA will be legal, valid, binding, and enforceable under the laws of Armenia and will take effect in accordance with its terms.
- The GMRA Netting Provisions would be enforceable in all Insolvency Proceedings including non-liquidation insolvency.
- A court in Armenia would uphold the choice of English law and the submission by the parties to the English courts.
We will be publishing the recording of the webinar on our official YouTube channel soon. So stay tuned!