30.Jul .2020 12:01

Anaklia Development Consortium file arbitration lawsuit against Georgia

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Anaklia Development Consortium and the main foreign investor filed an arbitration lawsuit against Georgia.

As it became known during today’s press conference, Bob Meyer, one of the main investors, and Anaklia Development Consortium filed an independent arbitration lawsuit against Georgian on July 29.

The plaintiffs tag the decision of the Georgian government about termination of the contract as illegal and demand restitution of their rights. According to their statement, the demand exceeds 1 billion USD and comprises losses of Consortium and Meyer.

The Georgian government officially terminated contract with Anaklia Development Consortium on January 9, 2020.