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.