The legislation of the Republic of Armenia establishes a procedure for collecting the share of a participant of the company, according in which, at the request of creditors, his share of the debts of a participant of the company can be levied only if other property is insufficient to repay the debts of this participant on the basis of court decision. I In order to pay the value of the share of such a participant of the company to its creditors, the company offers other participants to buy out this share. If the participants of the company do not exercise their rights to purchase the share within one month, the company has the right to purchase this share and pay the creditors of the participant of the company the cost of the share.
If the company does not exercise the right to acquire a share of a company participant within one month, then foreclosure on the share is carried out through the sale of the share through public auction. If the share is not sold within one month from public auction, the property corresponding to the share is allocated in the authorized capital of the company to be confiscated.