About Civil.ge
Eng | Geo | Rus
Last updated: 13:37 - 20 Oct.'14
 
RSS
Mobile
Twitter
Facebook
Patarkatsishvili Family Disputes Imedi Sale
Civil Georgia, Tbilisi / 26 Feb.'09 / 11:16

The family of late tycoon Badri Patarkatsishvili, a founder of Imedi media holding, said sale of the TV and radio station by Joseph Kay was illegal as the latter himself seized the hodling through illegal means.

A local unit of UAE’s Ras Al Khaimah (RAK) emirate’s investment fund, RAK Georgia Holding, has purchased 90% of Imedi, for undisclosed price. 10% of shares remain in Joseph Kay’s ownership, his legal representative said on February 25.

The Patarkatsishvili family said in a statement on February 25 that the deal “shows President Saakashvili is prepared to put Georgia’s media freedom up for sale… Saakashvili and his government took Imedi and now plan to transfer it to a subsidiary of an Arab emirate with no experience in free broadcasting.”

“This is how much the Georgian government cares for personal property and free speech,” it added.

Joseph Kay, a distant relative of Patarkatsishvili, claims that he became the television station’s owner after he had bought shares from Gogi Jaoshvili “simply by paying money” in February, 2008, after the death of Patarkatsishvili.

Imedi TV and radio were not directly owned by Petriashvili; instead shares were registered on his close friend Gogi Jaoshvili’s name. The latter was owner of 70% of JMG, a company with a 65% stake in I-Media, which has total ownership of Imedi TV and radio. Jaoshvili also was a chairman of I-Media’s board of supervisors.

Jaoshvili made his first public statement on the matter on December 10, 2008, at a press conference convened by the Patarkatsishvili family and attorneys representing the family’s interests. He said that he was forced to give up his shares into the media holding as a result of pressure exerted on him by the Georgian authorities.

In a statement on February 25, the Patarkatsishvili family also claimed that “actual ownership of RAK Georgia Holding is not clear.” It suggested that groups within the Georgian authorities could have been behind the local partners of the company.

This year RAK Georgia Holding’s daughter company has purchased controlling stakes into the People’s Bank. Former PM, Zurab Nogaideli, and a leader of newly set up opposition party Movement for Fair Georgia, has alleged that Interior Minister Vano Merabishvili’s associates were behind the company not RAK Georgia Holding – the allegation was denied by the Holding itself.

Latest News
20 Oct.'14 13:37
Merabishvili Sentenced in Girgvliani Case-Related Trial
He was sentenced to 3 years in jail after being found guilty of power abuse and fraudulent actions.
19 Oct.'14 16:14
Tbilisi Says to Counter Russia’s Abkhaz Moves with ‘Pro-Active’ Foreign Policy
Russia-proposed new treaty with Abkhazia discussed by Georgian state security council.
18 Oct.'14 15:02
Georgian President to Visit Japan
President Margvelashvili will pay an official visit to Japan on October 21-25.
18 Oct.'14 14:55
New EU Ambassador to Georgia Takes Office
Janos Herman, a Hungarian career diplomat, has replaced Philip Dimitrov.
18 Oct.'14 00:27
Parliament Condemns Russia’s ‘Attempt to Annex’ Abkhazia
Parliament passed GD-proposed statement, voted down UNM-proposed draft resolution.
17 Oct.'14 22:55
Parliament Confirms Two Supreme Court Judge Candidates
Candidates were re-nominated by the President after they were voted down in August.
17 Oct.'14 12:12
Sokhumi Working on its Proposals to New Treaty with Russia
Views of the Russian side and Abkhaz leader “differ on number of clauses.”
17 Oct.'14 00:19
Georgian PM on Moscow-Proposed Treaty with Abkhazia
If signed it will first and foremost pose threat to self-identity of “the proud Abkhaz nation,” Garibashvili said.
16 Oct.'14 22:56
Georgian, Russian Diplomats Meet, Amid Row over Kremlin-Proposed Treaty with Abkhazia
Russian MFA says no one can prevent Moscow and Sokhumi from deepening ties.
16 Oct.'14 20:47
Court in Greece Rejects Extradition of Ex-Senior Interior Ministry Official
Data Akhalaia, ex-head of security service, is wanted in Georgia for multiple criminal charges.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
65