ODJCS registers growth in the first half of 2009
Number of acts instituted by Overdue Debts' Judicial Collection Service in the first half of 2009, has registered a significant growth, ODJCS press service reported.
Within the period indicated, the Service processed 42 743 executions against 31 000 in 2008. At the same time, total penalty sum increased thrice. Cost of property at ODJCS compulsory electronic auction increased twice, which explains the increase in ODJCS work load. Thus, as of July 2008 data, cost of property put up for auction comprised AMD 151 million. In July 1, 2009 the index rose to AMD 340 million.
Head of ODJCS analytical and inspection department Robert Minasyan noted that increase in claims has been registered since the beginning of 2009. "Banking system has seen growth in execution acts number. A number of penalties to clients for non-payment of telephone services and employers for arrears of wages were imposed. The service undertakes steps to provide effective collection of debts overdue," he noted.
Within the period indicated, the Service processed 42 743 executions against 31 000 in 2008. At the same time, total penalty sum increased thrice. Cost of property at ODJCS compulsory electronic auction increased twice, which explains the increase in ODJCS work load. Thus, as of July 2008 data, cost of property put up for auction comprised AMD 151 million. In July 1, 2009 the index rose to AMD 340 million.
Head of ODJCS analytical and inspection department Robert Minasyan noted that increase in claims has been registered since the beginning of 2009. "Banking system has seen growth in execution acts number. A number of penalties to clients for non-payment of telephone services and employers for arrears of wages were imposed. The service undertakes steps to provide effective collection of debts overdue," he noted.
