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In Georgia, arrested property of the opposition billionaire was put up for auction

2012-07-03 14:11

The national executive bureau of Georgia has put up the arrested property of the billionaire and opposition politician Bidzina Ivanishvili for auction sale, the RBC reported. According to the executive bureau, 100% of shares of the company "Cartu Groups" and 21.7% of shares of Progress Bank will be billed at the auction.


At the request of the National Executive Bureau, the National Bureau of Forensic Inquiry n.a. Levan Samharauli has estimated value of the shares owned by Ivanishvili in these two companies and found that 100% of shares of Ivanishvili in "Cartu Groups" are worth 151,880,661 GEL, and 21.7% of his shares in the Progress Bank are worth 3,566,498 GEL, the IA Regnum reported.

Executive Bureau noted that if the debtor pays the entire amount of the fine the executive activities will be canceled, the auction will be canceled and the arrest of the property will be removed.

Recall, Tbilisi City Court has fined the billionaire and the opposition leader of the coalition "Georgian Dream" Bidzina Ivanishvili on 126, 2 million lari (about $ 77.5 million). This was reported by Ivanishvili's media lawyers.

The decision was taken on Monday, June 11. Thus, the court has concluded the hearing on the administrative case of the Control Chamber of Georgia against the billionaire, related to the distribution of the satellite antennas by the company Global Sonsulting Group.

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