Georgia

Georgia

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2023 Basel and Waldmann v. Georgia Basel LLC and Ronald Waldmann v. Georgia (ICSID Case No. ARB/23/23) Georgia - Switzerland BIT (2014) ICSID ICSID Investment:

Summary:
Pending Georgia Switzerland Tertiary: L - Real estate activities 68 - Real estate activities Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
2 2020 Hasanov v. Georgia Nasib Hasanov v. Georgia (ICSID Case No. ARB/20/44) Azerbaijan - Georgia BIT (1996) ICSID ICSID Investment: Indirect shareholding in the Georgian internet provider Caucasus Online via Neqsol Holding and Nelgado Ltd.

Summary: Claims arising out of Georgian authorities’ alleged interference in the management of local internet provider Caucasus Online in which the claimant holds indirect shares, including the Georgian National Communication Commission’s appointment of a special manager to the board of Caucasus Online.
Indirect shareholding in the Georgian internet provider Caucasus Online via Neqsol Holding and Nelgado Ltd. Pending Georgia Azerbaijan Tertiary: J - Information and communication 61 - Telecommunications Alexandrov, S. A. - Claimant

Rowley, J. W. - Respondent

Shore, L. - President
Data not available Data not available Data not available Pending None None None None None None None
3 2020 Meijer v. Georgia Bob Meijer v. Georgia (ICSID Case No. ARB/20/28) Georgia - Netherlands BIT (1998) ICSID ICSID Investment: Investments in the Anaklia Development Consortium, holding rights in the Anaklia Port Project under a concession contract.

Summary: Claims arising out of the Government’s termination of an agreement with the Anaklia Development Consortium to develop a deep water port on the Black Sea in Georgia (the Anaklia Port Project) in which the claimant had invested; the termination was allegedly preceded by a Government campaign to undermine the port project.
Investments in the Anaklia Development Consortium, holding rights in the Anaklia Port Project under a concession contract. Pending Georgia Netherlands Tertiary: F - Construction 42 - Civil engineering Hanotiau, B. - President

Poncet, C. - Claimant

Sachs, K. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2020 Telcell v. Georgia Telcell Wireless, LLC and International Telcell Cellular, LLC v. Georgia (ICSID Case No. ARB/20/5) Georgia - United States of America BIT (1994) ICSID ICSID Investment: Equity ownership in MagtiCom Ltd., a local telecommunications company.

Summary: Claims arising out of alleged politically-motivated interference by the Government in the management of MagtiCom, including through the arrest of MagtiCom’s founder on the basis of tax evasion charges and a forced restructuring of the company to the alleged benefit of the State.
Equity ownership in MagtiCom Ltd., a local telecommunications company. Pending Georgia United States of America Tertiary: J - Information and communication 61 - Telecommunications Binnie, I. - President

Pryles, M. C. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
5 2019 Okuashvili v. Georgia Zaza Okuashvili v. Georgia Georgia - United Kingdom BIT (1995) SCC SCC Investment: Ownership of Omega Group Tobacco (OGT), a cigarette manufacturing company.

Summary: Claims arising out of Government authorities’ measures to collect tax debt incurred by OGT, including a local court’s order allowing the seizure and sale of assets belonging to OGT and the claimant.
Ownership of Omega Group Tobacco (OGT), a cigarette manufacturing company. Pending Georgia United Kingdom Secondary: C - Manufacturing 12 - Manufacture of tobacco products Petrochilos, G. - President

Mandelli, G. F. - Claimant

Knieper, R. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
6 2019 Range Resources v. Georgia Range Resources Limited v. Georgia The Energy Charter Treaty (1994) Data not available Data not available Investment: Indirect interest in a production sharing contract for an oil and gas project (“block VIA”) in Georgia through a 65% shareholding in Strait Oil and Gas Limited.

Summary: Claims arising out of the Government’s alleged wrongful termination of a production sharing contract with Strait Oil and Gas Limited for “block VIA”, an oil and gas project in Georgia in which the claimant held an indirect interest.
Indirect interest in a production sharing contract for an oil and gas project (“block VIA”) in Georgia through a 65% shareholding in Strait Oil and Gas Limited. Discontinued Georgia Australia Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Tribunal not constituted 21.90 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
7 2018 Iconia v. Georgia Iconia Capital LLC v. Georgia Georgia - United States of America BIT (1994) UNCITRAL Data not available Investment: Investments in a 2,405 m2 land plot for a real estate development project in the Vake-Saburtalo district of Tbilisi, Georgia.

Summary: Claims arising out of alleged measures by Georgian courts and government officials to delay and halt the claimant’s project to construct a commercial-residential apartment complex in the city center of Tbilisi. Allegedly, this included attempts by local opposition to take over the claimant’s land plot, harassment of the claimant’s employees and a refusal to issue construction permits.
Investments in a 2,405 m2 land plot for a real estate development project in the Vake-Saburtalo district of Tbilisi, Georgia. Data not available Georgia United States of America Tertiary: L - Real estate activities 68 - Real estate activities Data not available 10.00 mln USD Data not available Data not available Data not available Data not available Data not available None None None None None
8 2017 Gardabani and Silk Road v. Georgia Gardabani Holdings B.V. and Silk Road Holdings B.V v. Georgia (ICSID Case No. ARB/17/29) Georgia - Netherlands BIT (1998) ICSID ICSID Investment: Investments in electricity generation plants.

Summary: Claims arising out of the Government’s alleged refusal to raise electricity tariffs.
Investments in electricity generation plants. Decided in favour of investor Georgia Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Álvarez, H. C. - President

Alexandrov, S. A. - Claimant

Douglas, Z. - Respondent

Grigera Naón, H. A. - Claimant (replaced)
206.30 mln USD 75.90 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause
Umbrella clause Award dated 27 October 2022 Dissenting Opinion by Zachary Douglas ICSID annulment proceedings Pending (ICSID annulment proceedings) None None Mourre, A. - President

Nolan, M. D. - Member

Ó Hoisín, C. - Member
9 2017 KazTransGas v. Georgia KazTransGas JSC v. Georgia The Energy Charter Treaty (1994)

Georgia - Kazakhstan BIT (1996)
UNCITRAL Data not available Investment: Ownership of KazTransGas-Tbilisi LLP (100% shareholding), a natural gas distribution company.

Summary: Claims arising out of Georgian authorities’ appointment of a Special Administrator of the claimant’s local subsidiary KazTransGas-Tbilisi in 2009, resulting in the claimant’s loss of control over the subsidiary that was supplying natural gas to the capital of Georgia and adjacent regions under a 2005 investment memorandum signed with the Georgian Ministry of Economic Development.
Ownership of KazTransGas-Tbilisi LLP (100% shareholding), a natural gas distribution company. Settled Georgia Kazakhstan Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Name not available - President

Beechey, J. - Claimant

Name not available - Respondent
180.00 mln USD 40.00 mln USD Data not available Not applicable - settled or discontinued before decision on liability Settlement Agreement dated 13 September 2018 None None None None None None
10 2012 Bidzina Ivanishvili v. Georgia Bidzina Ivanishvili v. Georgia (ICSID Case No. ARB/12/27) France - Georgia BIT (1997) ICSID ICSID Investment: Shareholding in two Georgian commercial banks: JSC Cartu Bank and JSC Progress Bank.

Summary: Claims arising out of legislative amendments passed by the Government that allegedly gave tax authorities priority over the secured claims of financial institutions, among other measures, which the claimant considered to be designed specifically to target the two commercial banks in which it had invested.
Shareholding in two Georgian commercial banks: JSC Cartu Bank and JSC Progress Bank. Discontinued Georgia France Tertiary: K - Financial and insurance activities 64 - Financial service activities, except insurance and pension funding Tribunal not constituted 186.00 mln USD Data not available Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

National treatment

Most-favoured nation treatment
Not applicable - settled or discontinued before decision on liability Procedural order issued by the Secretary-General taking note of the discontinuance of the proceeding dated 10 December 2012, pursuant to ICSID Arbitration Rule 44 None None None None None None
11 2009 Itera v. Georgia (II) Itera International Energy LLC and Itera Group NV v. Georgia (II) (ICSID Case No. ARB/09/22) Georgia - United States of America BIT (1994)

Georgia - Netherlands BIT (1998)
ICSID ICSID Investment: Rights under a Debt Restructuring Agreement concluded between Georgia and the claimants concerning debts to Itera of various Georgian public sector organizations and state-owned companies related to gas supply services.

Summary: Claims arising out of the alleged restructuring of significant gas debts owed by Georgian state-owned entities to Itera and actions subsequently taken by Georgia that rendered the claimants’ investments valueless, including the bankruptcy proceedings of a chemical fertilizer plant in the city of Rustavi in which Itera had acquired a majority shareholding.
Rights under a Debt Restructuring Agreement concluded between Georgia and the claimants concerning debts to Itera of various Georgian public sector organizations and state-owned companies related to gas supply services. Settled Georgia United States of America

Netherlands
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Tribunal not constituted Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Order taking note of the discontinuance of the proceeding issued by the Secretary-General dated 19 November 2010, pursuant to Arbitration Rule 43(1) None None None None None None
12 2008 Itera v. Georgia (I) Itera International Energy LLC and Itera Group NV v. Georgia (I) (ICSID Case No. ARB/08/7) Georgia - United States of America BIT (1994)

Georgia - Netherlands BIT (1998)
ICSID ICSID Investment: Rights under a Debt Restructuring Agreement concluded between Georgia and the claimants concerning debts to Itera of various Georgian public sector organizations and state-owned companies related to gas supply services.

Summary: Claims arising out of the alleged restructuring of significant gas debts owed by Georgian state-owned entities to Itera and actions subsequently taken by Georgia that rendered the claimants’ investments valueless, including the bankruptcy proceedings of a chemical fertilizer plant in the city of Rustavi in which Itera had acquired a majority shareholding.
Rights under a Debt Restructuring Agreement concluded between Georgia and the claimants concerning debts to Itera of various Georgian public sector organizations and state-owned companies related to gas supply services. Discontinued Georgia Netherlands

United States of America
Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Danelius, H. - President

Orrego Vicuña, F. - Claimant

Stern, B. - Respondent
46.40 mln USD Data not available Unclear Not applicable - settled or discontinued before decision on liability Decision on the Admissibility of Ancillary Claims dated 4 December 2009

Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 19 November 2010, pursuant to ICSID Arbitration Rule 43(1)
Dissenting Opinion of Professor Francisco Orrego Vicuña (Decision on the Admissibility of Ancillary Claims) None None None None None
13 2008 iZee v. Georgia iZee Enterprises LLC, Lazer-2 Tbilisi Ltd., and Cafe Rustaveli Ltd. v. Georgia Georgia - United States of America BIT (1994) UNCITRAL None Investment: Fifty percent shareholding in each of three Georgian companies, Lazer-2 and SonyCentre-Tiblisi which sold Sony products in Georgia, and Café Rustaveli, a Georgian restaurant.

Summary: Claims arising out of the alleged seizure of claimant's business premises in Tbilisi by officers from the Georgian Interior Department.
Fifty percent shareholding in each of three Georgian companies, Lazer-2 and SonyCentre-Tiblisi which sold Sony products in Georgia, and Café Rustaveli, a Georgian restaurant. Settled Georgia United States of America Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles

Tertiary: I - Accommodation and food service activities
47 - Retail trade, except of motor vehicles and motorcycles

56 - Food and beverage service activities
Lalonde, M. - President

Hobér, K. - Claimant

Craig, W. L. - Respondent
12.00 mln USD Data not available Direct expropriation Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
14 2008 Karmer Marble v. Georgia Karmer Marble Tourism Construction Industry and Commerce Limited Liability Company v. Georgia (ICSID Case No. ARB/08/19) Georgia - Turkey BIT (1992) ICSID ICSID Investment: Rights under a highway construction contract concluded with the Georgian Government.

Summary: Claims arising out of the alleged termination of Karmer Marble's contract to build a highway linking the cities of Batumi and Kobuleti in the Georgian region of Adjara and its replacement by a local company, in the context of Georgia's Rose Revolution.
Rights under a highway construction contract concluded with the Georgian Government. Decided in favour of investor Georgia Türkiye Tertiary: F - Construction 42 - Civil engineering Lalonde, M. - President

Orrego Vicuña, F. - Claimant

Schwartz, E. - Respondent
Data not available Data not available Data not available Data not available Award dated 9 August 2012 None ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Order taking note of the discontinuance of the annulment proceeding issued by the Secretary-General dated 10 January 2013, pursuant to ICSID Arbitration Rule 44 (ICSID annulment proceedings) None None
15 2007 Fuchs v. Georgia Ron Fuchs v. The Republic of Georgia (ICSID Case No. ARB/07/15) Georgia - Greece BIT (1994) ICSID ICSID Investment: Co-ownership of a Panamanian company that had executed a joint venture agreement with a State-owned company and created a joint venture vehicle that held a Deed of Concession over certain oil and gas pipelines in Georgia.

Summary: Claims arising out of a Government's decree cancelling the concession rights of an investment vehicle in which Mr. Ioannis Kardassopoulos and Mr. Ron Fuchs held interests, devoted to the development of an oil pipeline to transport oil and gas from Azerbaijan to the Black Sea.
Co-ownership of a Panamanian company that had executed a joint venture agreement with a State-owned company and created a joint venture vehicle that held a Deed of Concession over certain oil and gas pipelines in Georgia. Decided in favour of investor Georgia Israel Tertiary: H - Transportation and storage 49 - Land transport and transport via pipelines Fortier, L. Y. - President

Lowe, V. - Claimant

Watts, A. - Claimant (replaced)

Orrego Vicuña, F. - Respondent
30.20 mln USD 15.10 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Decision on Jurisdiction dated 6 July 2007

Award dated 3 March 2010
None ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Decision of the ad hoc Committee on the Stay of Enforcement of the Award dated 12 November 2010 (ICSID annulment proceedings)

Decision of the ad hoc Committee to terminate the Stay of Enforcement of the Award dated 19 January 2011 (ICSID annulment proceedings)

Decision of the ad hoc Committee to suspend the Annulment Proceeding dated 21 March 2011 (ICSID annulment proceedings)

Order taking note of the discontinuance of the proceeding dated 12 December 2011, pursuant to ICSID Arbitration Rules 53 and 43(1) (ICSID annulment proceedings)
None Hascher, D. - President

Abraham, C. W. M. - Member

Böckstiegel, K.-H. - Member
16 2005 Ares and MetalGeo v. Georgia Ares International S.r.l. and MetalGeo S.r.l. v. Georgia (ICSID Case No. ARB/05/23) Georgia - Italy BIT (1997) ICSID ICSID Investment: Majority shareholding in a State-owned steel plant through a share purchase agreement approved by certain city court and endorsed by the Government of Georgia through a Presidential Decree.

Summary: Claims arising out of the declaration of invalidity by Georgian authorities of certain share purchase agreement concerning claimants' investments in a State-owned metallurgical plant, after allegedly receiving encouragement from the Georgian Government to become involved in the plant's rehabilitation process.
Majority shareholding in a State-owned steel plant through a share purchase agreement approved by certain city court and endorsed by the Government of Georgia through a Presidential Decree. Decided in favour of investor Georgia Italy Secondary: C - Manufacturing 24 - Manufacture of basic metals Rowley, J. W. - President

Gaillard, E. - Claimant

Beechey, J. - Respondent
113.00 mln USD 3.50 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 28 February 2008 None None None None None None
17 2005 Kardassopoulos v. Georgia Ioannis Kardassopoulos v. Georgia (ICSID Case No. ARB/05/18) Georgia - Greece BIT (1994)

The Energy Charter Treaty (1994)
ICSID ICSID Investment: Co-ownership of a Panamanian company that had executed a joint venture agreement with a State-owned company and created a joint venture vehicle that held a Deed of Concession over certain oil and gas pipelines in Georgia.

Summary: Claims arising out of a Government's decree cancelling the concession rights of an investment vehicle, in which Mr. Ioannis Kardassopoulos and Mr. Ron Fuchs held interests, devoted to the development of an oil pipeline to transport oil and gas from Azerbaijan to the Black Sea.
Co-ownership of a Panamanian company that had executed a joint venture agreement with a State-owned company and created a joint venture vehicle that held a Deed of Concession over certain oil and gas pipelines in Georgia. Decided in favour of investor Georgia Greece Tertiary: H - Transportation and storage 49 - Land transport and transport via pipelines Fortier, L. Y. - President

Orrego Vicuña, F. - Claimant

Lowe, V. - Respondent

Watts, A. - Respondent (replaced)
30.20 mln USD 15.10 mln USD Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Direct expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Decision on Jurisdiction dated 6 July 2007

Award dated 3 March 2010
None ICSID annulment proceedings Discontinued (ICSID annulment proceedings) Decision of the ad hoc Committee on the Stay of Enforcement of the Award dated 12 November 2010 (ICSID annulment proceedings)

Decision of the ad hoc Committee to Terminate the Stay of Enforcement of the Award dated 19 January 2011 (ICSID annulment proceedings)

Decision of the ad hoc Committee to Suspend the Annulment Proceeding dated 21 March 2011 (ICSID annulment proceedings)

Order taking note of the discontinuance of the proceeding dated 12 December 2011, pursuant to ICSID Arbitration Rules 53 and 43(1) (ICSID annulment proceedings)
None Hascher, D. - President

Abraham, C. W. M. - Member

Böckstiegel, K.-H. - Member
NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2020 Leshkasheli and Rosserlane v. Azerbaijan Zaur Leshkasheli and Rosserlane Consultants Limited v. Republic of Azerbaijan (ICSID Case No. ARB/20/20) The Energy Charter Treaty (1994)

Azerbaijan - Georgia BIT (1996)
ICSID ICSID Investment: Indirect shareholding in Shirvan Oil Company through Caspian Energy Group Limited Partnership (CEG), as part of a joint venture with state oil company SOCAR for hydrocarbons exploration and production at the Kurovdag field.

Summary: Claims arising out of the alleged interference by state-owned company SOCAR with the operation of the Kurovdag oil field under a joint venture agreement with CEG, in which the claimants held shares. According to the claimants, the interference allegedly resulted in the forced sale of CEG by a third party in 2008.
Indirect shareholding in Shirvan Oil Company through Caspian Energy Group Limited Partnership (CEG), as part of a joint venture with state oil company SOCAR for hydrocarbons exploration and production at the Kurovdag field. Pending Azerbaijan Georgia

United Kingdom
Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Lévy, L. - President

Haigh, D. - Claimant

Silva Romero, E. - Respondent
700.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures

Umbrella clause

Transfer of funds

Indirect expropriation
Pending Data not available Data not available None None None None None