13 August 2020,   03:47
Anaklia Development Consortium and main foreign investor file arbitration lawsuit against Georgia

The Anaklia Development Consortium and major foreign investor Bob Meyer have filed independent arbitration claims against Georgia over their infringed rights in the Anaklia Port project.

They are demanding the restitution of their rights and compensation for damages done to the consortium as a result of what they say was a Government campaign during the implementation of the Anaklia Port project.

“The amount of this claim is exceeding USD 1 billion and consists of the losses of the ADC and Meyer, which is a direct result of the Georgian government"s campaign to undermine the Anaklia port project. The Georgian government conducted a covert campaign against the consortium to prevent the Anaklia project from being implemented. The Government officials have repeatedly criticised the project and its shareholders in both public and private meetings.

Potential investors were even told that the Government did not want to participate in their project, which was a clear confirmation to U.S. government officials that the project did not have the support of the Georgian government”, - reads the statement.