ASSET TRACING & BENEFICIAL OWNERSHIP INVESTIGATION — ARMENIA — TRANSPORT AND LOGISTICS SECTOR
Client. A foreign investor in the transport and logistics sector seeking to acquire a stake in an Armenian freight and haulage operation. The client held no prior commercial presence in Armenia.
Background. Before execution of the transaction documents, the client required independent verification of the target entity's beneficial ownership structure and an assessment of any undisclosed liabilities or encumbered assets. Publicly available Armenian registry data was incomplete, and certain disclosed shareholding arrangements did not align with the client's own due diligence findings. The matter required field-level investigation alongside formal legal analysis under Armenian law and cross-border Armenia–Russia tracing work.
Our role. Counsel coordinated a structured beneficial ownership investigation, mapping the target's shareholding chain through Armenian state registries, related-party transaction records, and available cross-border sources. The investigation identified material discrepancies between disclosed ownership and underlying control. Counsel prepared a risk memorandum setting out the findings and recommended contractual protections for the client's exposure.
Outcome. Exposure identified before signing and contractually allocated. The client proceeded with the transaction on amended terms incorporating specific indemnity provisions and representations as to ownership structure.
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