Authorities late to Restore Proprietors’ Rights
03 October, 2013
Authorities late to Restore Proprietors’ Rights
Proprietors, who handed their property to the state under the pressure of the ex-power, worry that the new administration shies to prompt the process of returning the confiscated assets to legal owners, and press the government to get more effective. The Authorities argue that the state budget won’t survive if it immediately pays off the compensations averaging GEL 6-7 billion in seized assets. Some sector pundits believe the lack of political will is the reason that makes the justice restitution
tardy.
A year has passed since the new authorities came into office and pledged to restore infringed property rights as soon as possible but the process cannot move from the dead point in fact. Except few cases including restored rights of the Cartu Group affiliated with the Prime Minister of Georgia Bidzina Ivanishvili and family businesses of Badri Patarkatsishvili, a late tycoon and imputed buddy of PM, the much trumpeted property violation cases still are pending for fair decision. During his meeting with economic and political analysts past week Ivanishvili confessed that the state stumbles to find effective mechanism to solve the piling property violation cases at Prosecutors’ Office. Overall approximately GEL 6-7 billion worth assets were seized during the ex-power through crack-down on proprietors and who ultimately either gave the required assets away as “gifts” to the state or handed them through different intricate financial and legal mechanisms to the state or top officials’ families and friends. Around 9700 of alleged “gifted” assets are registered and thousands of others were taken through the plea bargaining largely practiced by ex-power reigned Prosecutors’ Office. And 90% of this disputed property belongs to the state or was seized through the state. Ivanishvili fears that if now the state assumes responsibilities to pay the seized property back to legal owners it will deliver an irreversible impact on the state budget and development prospects of the society.
According to him, the problem was aggravated by unreasonable investment policy of the seized assets that practically were squandered on ineffective projects creating no value in the economy. And now the new authority faces a dilemma as to how to compensate losses to victim proprietors without violating rights of the remaining part of the society.
“It is certainly true that the state must restore the justice but the state belongs to the entire society not just victims [of the regime] alone. So, we may deprive the society of its development prospect if the state assumes these arrears through any possible form,” Ivanishvili said adding that thousands of versions of the problem solution have been discussed but no actual way-out is found so far. The afflicted entrepreneurs meantime accuse authority in making tardy decisions and nepotism for the few cases settled so far are related with Ivanishvili himself or his encircle.
Ditrikh Muller, a co-founder of Georgian Investment Group +, believes the problem is the lack of political will not the state budget.
“If there were a political will around 70% of the disputed cases might have been solved long before. The state budget bears no responsibility toward the victims of the ex-regime. Their property was seized by criminal activity of the state officials, prosecutors, etc. Those perpetrators not the state enjoyed the profits of the seized assets and they ought to bear responsibility and clear the compensations to victims. Let the Prosecutors’ Office prompt investigations properly and then put criminal functionaries responsible for their crimes. No other mechanism than that can be adopted,” Muller said to Georgian Journal.

Print
Other Stories
Georgian citizens are granted the right to work in France
The French Embassy in Georgia made remarks on granting Georgian citizens the right to work in France
The New York Times: Bitcoin declines but Georgia still bet on it
The New York Times has recently published an article about reasons, challenges and causes of generating Bitcoin in the former Soviet country Georgia.
EU to allocate € 13 billion for Eastern Partnership countries, including Georgia
The European Union together with the World Bank plans to allocate investment worth € 13 billion for infrastructure projects in the Eastern Partnership countries.
Anaklia Port and its importance for Georgia
In 2016, Anaklia Development Consortium was authorized to launch the construction of Anaklia Port.
Cryptocurrency mining threatens electrical network in Abkhazia
In the breakaway region of Akbhazia rampant cryptocurrency mining is threatening the shaky electrical network, reports an article of the news portal EuroNet.
Caucasus Wine University to be opened in Gurjaani
In the Kakheti region a new viticulture campus of the Caucasus University is in the process of planning.
Photos describing life of the poorest in Georgia
Fight with poverty should be among top priorities of every government in every country.
Training farmers to rescue the organic hazelnut production in Georgia
Even drizzling rain and unpleasant gusts of wind can’t prevent the farmers from coming and participating in the agricultural training.
Bleak times for organic farmers in Georgia – but there is hope
Organic hazelnut production is a delicate plant in Georgia that has emerged just a couple of years ago. Various pests, among them the Asian stink bug Parosana, trouble hazelnut farmers and menace their livelihood – even before their businesses could really take off.
Hybrid car imports are going through the roof in Georgia
Thanks to their fuel economy, the popularity of hybrid cars is increasing in Georgia, where fuel affordability is low and prices for fuel are unstable.
The New Year offer from MAQRO Construction - Apartments with unbelievable discounts and the parking spaces for FREE!
Location, green yard, spaces for various needs, experience of the construction company and parking space are the main important criteria for potential buyers of apartments.
Interview with the co-founder of Kiwi Vegan Café – the first vegan place in Tbilisi
Behind the Kiwi Vegan Café stands a group of activists who wants to raise Georgian’s awareness for animal rights and welfare.
Biblusi opens first shop for tourists - Georgian
The largest book shop in Georgia Biblusi opens the first shop specially designated to the needs and interests of tourists and named it Georgian.
Georgia improves by five ranks in the Prosperity Index
In the overall Prosperity Index rankings, Georgia has climbed by 5 positions from 85 to 80 when compared to last year. As such, Georgia is the best performing country in the CIS zone.
The future is bright for electric cars in Georgia
The numerous hybrid cars in the streets of Tbilisi cannot be overlooked. Entrepreneur Sulkhan Gvalia calls them “pagers”, referring to the predecessor of mobile phones.
Georgia’s fight against the big tiny enemy – Asian Parosana
It’s a tiny creature, but the harm it did to the Georgian agriculture sector was and still is immense.
New cable route: from Kobi to Gudauri in 15 minutes
On the 15th of December, cable transport is scheduled to be opened connecting Kobi and Gudauri.
Tourist boom in Gudauri – majority of hotels are booked by foreigners
Gudauri is among the most popular winter resorts in Georgia.
Medical tourism increases in Georgia
In the last 9 months, Georgia was visited by 19 500 foreigners for medical and recovery purposes.
Doing business in Georgia has become easier than in America
According to the Doing Business 2019 report published by the World Bank, Georgia ranked 6th among 190 countries in terms of simplicity of doing business. This was an improvement over two ranks compared to last year.
Problems that foreigners frequently face in Georgia
The importance of Georgia as a tourism hub is growing year after year.
Tbilisi TV Broadcasting Tower – Better than the Eiffel Tower?
It is planned to renovate the Tbilisi TV Broadcasting Tower, one of the landmarks in the capital.
Georgian Fusion Menu by The Biltmore Hotel Tbilisi
5,895,914 international visitors have visited Georgia between January and August of 2018. Compared to the previous year the number has increased by 12.2 per cent.
Advertising of gambling and lucrative games may become banned in Georgia
Advertising of gambling and lucrative games may become banned in Georgia. Those who violate the new rule would be fined GEL 10 000.
Lebanese café-lounge Beirut opens in Tbilisi
What is necessary to organize an unforgettable event? – Fun, emotions, lots of surprises, good music and delicious menu.
PHOTO OF THE DAY
GEL Exchange Rate
Convertor
19.02.2019
20.02.2019
USD
1
USD
2.6404
2.6498
EUR
1
EUR
2.9908
2.9977
GBP
1
GBP
3.4130
3.4246
RUB
100
RUB
3.9898
4.0023
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6498
EUR
1
EUR
2.9977
GBP
1
GBP
3.4246
RUB
100
RUB
4.0023
February 2019
Mon Tue Wed Thu Fri Sat Sun
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28