CT Park releases statement

access_time2018-03-14 13:07:47

Owners of CT Park Ltd have released statement in response to Tbilisi Mayor’s decision to unilaterally terminate an agreement and called it illegal and premeditated political. 

“Yesterday’s announcement by the mayor of Tbilisi Kakha Kaladze regarding unilateral termination of the agreement with CT Park is an illegal, premeditated political act and the latest example of how the Georgian government treats foreign investors. The entire state apparatus, including various branches of government, have been used in a well-coordinated, concerted effort to unlawfully drive CT Park out of Georgia. The authorities have acted in bad faith and disregarded continuous communications from the investor as well as the fact that there are two pending court cases whereby CT Park challenges the absurd allegations that it has violated Georgian law. The authorities have attempted to create an illusion of legal process where the end result (illegal termination of contract due to the interests of certain groups standing above the law and the judiciary) was predetermined. CT Park will consider all options and remedies available to it under Georgian and international law. CT Park owners will also bring this information to the attention of Israeli and international business community. This will no doubt reflect negatively on the Georgian investment climate, which apparently does not concern powerful bureaucrats acting in self-interest”, says the statement.


Exclusive - A List of the Companies with Suspended Construction Permit

person access_time2018-03-21 09:04:13
Commersant requested information from the Tbilisi City Hall Supervision Service about 46 suspended constructions due to various violations. According to the information we hold, violations of construction companies were related to specific reasons. The most violations are related to safety norms and permit documentation. Most of...

City Hall to Generate at Least GEL 1 Mln from Licensing Taxi Drivers

person access_time2018-03-20 14:00:55
Tbilisi City Hall works on the introduction of new regulations for taxi drivers. Parliament is currently discussing the relevant legislative package. According to the project, taxi drivers will be obliged to undergo...

Industrial Product Price Index Grew in February

person access_time2018-03-20 11:49:27
In February  2018, the Industrial Product Price Index (IPPI) grew...

New Georgian Wine Mejvriskhevi Red to be Released to the Market

person access_time2018-03-20 13:48:36
Mejvriskhevi Red is  a  new wine brand which will be released on the market in spring, in particular at the end of May. Andro Barnov, chairman of Kartli Wine Cellar  Association, told Commersant that the new...

The Net Profit in the Insurance Sector Totaled GEL 20,34 Mln in 2017

person access_time2018-03-20 12:41:35
According to the data released by the Insurance Supervision Service, the net profit of the insurance sector in 2017 amounted to GEL 20,34 million. The assets of insurance companies made GEL 580,22 million, while capital...

Similar News