The London Arbitrate Court to review the case against Fux and Frenkel
 Tbilisi 12:14 - 29.11.11 «GHN»
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On November 30, the London Arbitrate Court will review the case of Israeli businessmen detained in Georgia for the bribery attempt of government official, GHN reports.

This time the detained businessmen are imprisoned in Georgia with allegation in the inappropriate actions towards Deputy Finance Minister.


The London Arbitrate Court now reviews the case of these businessmen, who sued the Georgian government for the not fulfilling obligations under the joint project with the company "Tramex".

 

In 1992 "Tramex" concluded an agreement with the Georgian state oil company for the joint construction project of the oil pipe line. After a year the Georgian government refused to participate in this project. The Israeli businessmen in response to the refusal demanded to pay off the compensation for damages.


After the several years of legal pleadings in February of 2011 the International Center for the Investments Litigations, (which is connected with the World Bank) ordered to Official Tbilisi to pay off the damages to "Tramex" for USD 100 mn. Nevertheless, the government refused to do this.

Presently the Georgian party demands to annul the decision of an Arbitrate Court which was delivered in favor of Israeli businessmen. The review of the question will take a week.

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