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Bidzina Ivanishvili has submitted a claim against Georgian Government to the arbitral tribunal

2012-08-17 12:57

Georgian billionaire and politician Bidzina Ivanishvili has submitted a claim against the government of the country to the International Centre for Settlement of Investment Disputes (ICSID), the reported.


According to the businessman, the Georgian authorities have allowed illegal actions in relation to his bank.

As stated by the press-secretary of the Georgian businessman Maya said Panjikidze, the complaint is connected to the "violations committed by the Georgian authorities" in relation to the Cartu Bank.

Еру ICSID is the Arbitration Institute of the World Bank, which adjudicates disputes between states and investors. The decisions of the international organization are considered binding for all its members.

As previously reported by the IA Regnum, Ivanishvili intended to sue the government of Georgia for violation of his investment rights. To this end, he has hired international law firm SKADDEN, and addressed to the International Center for the Review of Investment Disputes of the World Bank for the decision of the dispute with the Government of Georgia.

Ivanishvili's lawyer Archil Kbilashvili stated the final amount of damage Ivanishvili suffered from the actions of the authorities, was not yet known. However, it was known that it would amount about several hundred million GEL.


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