**Georgian Businessmen Lose Latest Dispute Over Anaklia Port Project**
In a major victory for the Georgian government, businessmen Mamuka Khazaradze and Badri Japaridze have lost their latest dispute over the Anaklia Port project in an international arbitration institution.
The Washington-based International Center for Settlement of Investment Disputes (ICSID) has ruled in favor of the Georgian government, rejecting claims from Khazaradze and Japaridze that they were unfairly terminated as contractors. Instead, the tribunal found that the pair and their partners were fully responsible for financing the project, which ultimately failed due to their own shortcomings.
According to the Ministry of Justice, the arbitration institution confirmed that there was no interference from the Georgian government in the Anaklia Port project. In fact, the state had consistently supported the implementation of the project during its term, despite delays and failures on the part of the contractors.
The tribunal also found that Khazaradze and Japaridze’s Dutch partner, Bob Meyer, made claims for $64 million, but these were rejected by the arbitration institution. In fact, Meyer was ordered to pay $6.5 million to the Georgian government.
This is not the first time that Khazaradze and Japaridze have lost a dispute over the Anaklia Port project. Exactly one year ago, they lost a similar case in the Paris-based arbitration institution, where they had demanded payment of $1.5 billion from the state budget. In that case, the tribunal also rejected their claims and imposed a payment of $650,000 on them.
**Commentary**
The latest ruling is a significant blow to Khazaradze and Japaridze’s reputation as business leaders in Georgia. Despite their previous success and influence, it appears that they have failed to deliver on major projects such as the Anaklia Port.
For the Georgian government, this victory represents a major win in its efforts to protect national interests and ensure accountability from private companies. The fact that the arbitration institution has consistently ruled in favor of the state suggests that Georgia’s institutions are robust enough to withstand even the most powerful business interests.
**Analysis**
The Anaklia Port project was always a high-risk, high-reward venture for Khazaradze and Japaridze. However, despite their best efforts, they were unable to secure financing or deliver on key milestones. The latest ruling suggests that they have been held accountable for these failures, and that the Georgian government has emerged victorious in its bid to protect national interests.
The implications of this ruling extend beyond the Anaklia Port project itself. It sends a strong message to other foreign investors and business leaders that Georgia will not tolerate malfeasance or incompetence from private companies. This is likely to have significant consequences for the country’s business landscape, as investors and entrepreneurs adjust their expectations and strategies in light of these developments.
**What Next?**
As the news of this latest ruling spreads, it remains to be seen how Khazaradze and Japaridze will respond. Will they appeal the decision, or will they accept defeat and move on? The Georgian government is likely to continue to enforce its rights and protect national interests in the face of such disputes.
One thing is certain: this ruling represents a significant victory for the Georgian state and a major setback for one of its most influential business leaders.
