Which property of ivanishvili will be arester?
28 June, 2012
Which property of ivanishvili will be arester?

Experts fear that the start of this process will incite serious counter processes

The time is up for Bidzina Ivanishvili, Leader of the Georgian Dream to pay GEL 75 million as a penalty. He states that he ownes no shares in any Georgian company.

 

“I have no share in Cartu Bank or any other Georgian organization. I have disposed of the last share on 2 May and transferred my share of the bank to my son Uta,” –  Ivanishvili says. This issue

became the subject of heightened interest after Ivanishvili’s case of penalty payment has been handed over to the Payment Effecting Bureau. The penalty has been imposed by the court on the basis of the request by the Control Chamber, which has accused Ivanishvili of transgressions in favor of the Georgian Dream.

It’s interestin that the court of appellations has halved the original penalty to the current GEL 75 million (USD 45.5 million). Ivanishvili calls the court decision illegal and defies it. His lawyers are preparing the appellation to send to the Strasburg Court.

As the deadline for the penalty payment is over now, on 20 June the National Bureau of Implementation has received two execution orders by the court of appellations regarding the penalties imposed on Ivanishvili. Ivanishvili had been given seven days to reimburse the dues.

The Execution Bureau is entitled to arrest and auction any property belonging to a penalized person, including company ownership shares registered in the name of the given person. If something, the Authorities can enter the companies as administrators of these shares. Moreover, if the property seized in Georgia is not subject to the penalty, the Authorities may ask relevant foreign countries to arrest the wrongdoer’s property located there.

It should be noted also that non-payment of the administrative penalty does not incur deportation of the person in question. Hence, the Authorities have no ground to deport Ivanishvili. The main thing is the identification of the property to cover the penalty. At present, the seven-day waiting period has expired.

The Ivanishvili’s defiant reply may already trigger the property arrest. So, it is important to know which property will be subjected to the arrest and what would be repercussions in the country. “The Authorities can arrest any property. Even more, they do not have facts to do it,” – says the billionaire.

Regarding the private property, the data from the Public Registry indicates that there are five real estate properties registered for a person with the name of Bidzina Ivanishvili in Chorvila village, Bakuriani settlement, Natanebi village, Saguramo and Tskneti areas. On the second day, Ivanishvili confirmed that the above said property does belong to him but their cumulative value is less than 75 million Lari. It’s a fact that so called glass palace or any other real estate in Tbilisi is not his property. If not enough, the Authorities would go after the industrial shares of Ivanishvili. Regarding these shares, Ivanishvili claimed that he has no such property. It remains to be seen what the Authorities would do to retrieve the required penalty sum. There is no comment made in this regard.

Experts say that Ivanishvili’s property seizures by the Authorities would cause reverse processes.

“As far as I know, this house and most of his property is not registered in his name. If the Authorities touch property that does not belong to him – it’s not ruled out that they will – no process would be immune any more. I think this policy by Authorities is not thought out,” – argues political expert Ramaz Sakvarelidze. He remarks that the feeling of injustice often turns the public aggressive towards the Authorities.

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