The Government of Georgia won the 4-year arbitration dispute with the Anaklia Development Consortium, - the Justice Minister Rati Bregadze and the Anaklia Development Consortium made a statement about the decision. According to Rati Bregadze, the International Court of Arbitration ruled that the Georgian government terminated the investment agreement lawfully. The Anaklia Development Consortium has been ordered to pay USD 650 thousand in favor of the government.
The arbitration dispute began in 2020 after the government terminated its investment agreement with the consortium. In the dispute, the interests of the Georgian government were defended by the international law firm White & Case, while the international law firm Baker & Mackenzie represented the appellants.
According to the website of the State Procurement Agency, the government signed a contract with White & Case in 2020, with a value of GEL 70 million.
As of the procurement agency, a total of GEL 69,988,642 was spent for dispute services.
It is important that the interests of the Georgian government are protected by White & Case in most arbitration cases, and the amount paid to the company since 2020 is GEL 143 million.
White & Case is a global law firm with a team of 2,600 lawyers. The annual revenue of the company exceeds USD 2.8 billion.
