**Businessman Loses Court Battle**
Irakli Rukhadze, a wealthy businessman in Georgia, has lost his court battle in the UK Supreme Court. He was ordered to pay over $170 million in compensation for “commercial conspiracy”.
**What Happened?**
Rukhadze and his business partners were found to have hindered efforts to recover assets of deceased Georgian tycoon Badri Patarkatsishvili’s family. They were accused of committing a commercial conspiracy, which resulted in the companies Revoker LLP and Recovery Partners GP Limited losing a “billion-dollar project”.
**Previous Rulings**
The Court of Appeal had previously ruled against Rukhadze in 2022 and 2019. The judges found that he and his partners deliberately undermined a project to locate and restore Patarkatsishvili’s assets.
**Compensation Ordered**
Rukhadze was ordered to pay over $170 million in compensation, plus accrued interest and legal costs. Some of his assets were seized as part of the case.
**Background**
After Patarkatsishvili’s death in 2008, his family received a total of more than $2 billion in assets. Rukhadze and his partners accumulated a significant fortune by completing the asset search and reaping financial gains through investments in major Georgian companies.
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