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The company “Wasserlauf”, owned by comedian Michael Galustyan went bankrupt, reports the Telegram-channel Mash. This is the second month, the firm of the artist, which ceased operations because of debts to creditors.

According to journalists, “Wasserlauf” conducted its activities with 2019 in IT-sphere: employees of the company developed the mobile app. No finished product the firm as a result was not submitted, the report says. The program AVATunes with elements of augmented reality, which Galustian presented in January of this year, was developed by a completely different company, say the journalists.

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At the end of June as reported by the “Rambler”, Mikhail Galustyan announced the bankruptcy of the company “Top film Comedy,” the founder of which he was in 2011. The firm was engaged in the production of the film “That still Carlson!”, failed at the box office. Media reported that the company went bankrupt in respect of difficulties due to the country introduced quarantine measures.

Also in mid-June it became known about the loss of “ACE gaming”, the shares of which is owned by Mikhail and Alexander Galustyan Revue. The company is engaged in manufacturing skins for the most popular shooter in the world of Counter Strike: Global Offensive. It turned out that only last year the company’s losses are estimated at 2.4 million rubles.

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Jennifer Alvarez is an investigative journalist and is a correspondent for European Union. She is based in Zurich in Switzerland and her field of work include covering human rights violations which take place in the various countries in and outside Europe. She also reports about the political situation in European Union. She has worked with some reputed companies in Europe and is currently contributing to USA News as a freelance journalist. As someone who has a Masters’ degree in Human Rights she also delivers lectures on Intercultural Management to students of Human Rights. She is also an authority on the Arab world politics and their diversity.