George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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its a pity the 3 judges that rules on the arbitration cant make a statement outlining who got what
As they appear to have made it impossible for the Georgians and frontera to decipher
Giorgi Vashadze is of the opinion that the government lost the arbitration !!! ‘How many millions were spent, for example, in a dispute with Frontera, which is covered in farce, as if they have won the dispute. However, in most of the points, we have studied this issue, "Frontera" won, which I am not happy to tell you directly, as a citizen of Georgia, because this damage has to be paid from our budget.’ The plot thickens !
Thanks Looed , you are right. Only had tine for a quick read through before work .
Morning Gipps51 - one small point from your post.
I think Giorgi Vashadze is saying the people of Georgia are paying the price of the arbitration, not that FRR themselves are paying - "Another issue that I would like to emphasize is that our government goes to these arbitrators and loses these arbitrations as if they are going to pay from there own pockets the obligations or compensation for arbitration services. This is also what we have to pay. This is also money to be paid from our budget. How many millions were spent, for example, in a dispute with Frontera," (from Pt.6)
Agree it has been very quiet. Lets see if there is any fallout from the latest intervention by the Senator.
Thank you Looed , very much appreciated. So thats it the last translation which is a week old now. I wonder whats been going on as Zaza was doing almost daily interviews ? Hmmm .
Well if i ran an American company, infact if i ran any western facing company ie from the UK, France, Germany no way under the current regime would i consider starting up in Georgia.
Giorgi Vashadze spoke very well. Yes he is an opposition leader however his party only got 3.45% of the votes last time and won 0-150 seats, thats the downside however his party have united with 9 other opposition parties this time around.
A grey area for me is who actually "won" the arbitration. Its mentioned in the translation that the GG lost however Frontera picked up the bill .
Its clear and is mentioned that the citizens of Georgia have a clear choice to make in the election , north or west.
I always ask myself after reading the translations am i more or less confident , im more however we need a change of government in October or whatever could be being agreed could be reversed if the GD get voted back in.
The article is dated 17th June and can be found here -
https://3wnews.org/uncategorised/1423067/american-investment-firm-iconia-capital-llc-releases-explosive-documentary-exposing-death-threats-corrupt-judges-and-violations-of-law-in-georgia/
Pt.2
Mr. Char also notes that his company continues to pursue legal action via UNCITRAL arbitration against the Georgian government for past and present violations of the 1994 U.S. – Georgia Bilateral Investment Treaty, which requires guarantees of protection, security, and fair treatment to all Americans operating in the country.
Until the Georgian government can restore security and rule of law for the American businesses who have been harmed, or worse, bankrupted by rogue elements in Georgia, the investors of Iconia Capital maintain their position: that investing in Georgia continues to be an activity fraught with risks and dangers that are impossible to overcome.
For more information be sure to visit www.iconiacapital.com. The documentary can also be viewed here: https://youtu.be/2xvJdiHVNsw
(The video is in English and Georgian and ends with the good news that the court has recently found in favour of the company)
This is the company that takes part in the Translation #12 press conference
Pt.1
"American investment firm Iconia Capital LLC releases explosive documentary exposing death threats, corrupt judges and violations of law in Georgia"
The Republic of Georgia, a former member of the Soviet Union, has encouraged American investors to enter and help energize their economy. Unfortunately, this may just be theatrics as American real estate developer Iconia Capital LLC has found their project in the country’s capital to be under an ongoing, multi-year attack by opponents backed by local judges and political figures.
The American investment firm Iconia Capital LLC, which is fully owned and financed by U.S. citizens from Hawaii, continues to struggle against local adversaries who are backed by contacts in both the Georgian government and in the judiciary. However, the firm has recently released a short documentary, which, for the first time, has exposed a number of former and current officials involved in the attempted destruction of these guest investors in Georgia.
Formed in April 2014, Iconia Capital LLC has had its first real estate development project in Tbilisi, the Hippodrome Skytowers, under constant attack and harassment for the past five years by politically connected opponents with personal interests in illegally seizing the Americans’ property. Due to open attacks by government officials, irregular and biased court decisions, threats from former court officials, defamation by a pro-government television channel, and even threats of physical confrontations, the American investors have been frozen in time: unable to continue construction on the project, even as revenues are zero and company expenses continue to mount.
Iconia Capital’s CEO, Seth Char, notes the following message that he has delivered to the Georgian government and the High Council of Justice:
“Sometime this month, we are expecting a major decision from the Supreme Court of Georgia regarding the future of our investment in the country. We respectfully request, and require, that the Georgian government ensures we receive the decision with transparency, expediency, and honesty: under the standards of Georgian and international law. It is legally and ethically wrong for the courts to freeze our business indefinitely when we have violated no laws or codes in Georgia.”
“It is also necessary for the authorities to actually follow up on our evidence and control the “rogue elements” present in the court system: rogue elements that have personal financial interests and have been documented, on record, threatening myself and others.”