About Civil.ge
Eng | Geo | Rus
Last updated: 21:49 - 3 Oct.'15
Saakashvili Backs Debt-Stricken Rustavi 2 TV
Civil Georgia, Tbilisi / 18 Jun.'04 / 11:17

President Saakashvili pledged support to the Rustavi 2 broadcasting company, which has announced last week that is unable to pay its current debt of roughly USD 4.8 million.

“We will not make any TV company bankrupt irrespective of the amount they owe [to the state],” President Saakashvili said on June 17.

Founder and owner of the Rustavi 2 television station, Erosi Kitsmarishvili, who also chairs the Georgian Chamber of Commerce and Industry, is a close ally of President Saakashvili. He appealed the court on June 8 with a request to open bankruptcy proceedings over the Rustavi 2 case.
The Rustavi 2 company says it only has 3.8 million Lari (approximately USD 1.9 million) and is unable to pay its current debt of 9.2 million Lari (approximately USD 4.8 million), including the debt to the state budget of 4.6 million Lari.
According to the court’s ruling, the sitting of the Rustavi 2’s creditors is convened for June 28.

According to the Law of Georgia in Bankruptcy Proceedings, in the case of non-agreement with creditors over repayment of debt, the company will be declared bankrupt and its property will be sold.

Latest News
03 Oct.'15 21:49
Football Federation Gets New President in Election Marred by Delegate’s Arrest
Levan Kobiashvili has become a new president of the Georgian Football Federation for a 4-year term.
03 Oct.'15 16:47
President: Recent Developments in Georgian Media ‘Triggers Serious Questions’
Margvelashvili said “problems have been created” to the smooth operation of Rustavi 2 TV.
03 Oct.'15 15:32
President Says Georgia ‘Needs Active Foreign Policy’
Margvelashvili wrapped up his week-long working visit the United States.
02 Oct.'15 18:42
Media Advocacy Coalition’s Statement on Rustavi 2 TV Ownership Dispute
There are number of indications suggesting possible government meddling, the group said.
02 Oct.'15 11:30
Annual Inflation 5.2% in September
On a monthly basis consumer price rose 1.1% in September.
02 Oct.'15 02:34
In UN Speech PM Says Georgia’s ‘Future is Bright’
Garibashvili said the Georgian government has made “progress in every policy area.”
01 Oct.'15 23:58
Rustavi 2 TV Accuses Govt of Blocking Its Funding Deal
More asset freeze in court battle over ownership of Georgia’s most-watched broadcaster.
01 Oct.'15 18:44
Initial Draft of 2016 State Budget
Government has submitted to the parliament initial draft of next year’s budget.
01 Oct.'15 15:34
PACE Resolution on ‘Abuse of Pretrial Detention’ Criticizes Georgia
GD members of the Georgian delegation criticized report as “biased.”
30 Sep.'15 19:00
Georgian, Moldovan, Ukrainian FMs Meet Senior U.S. Officials
Georgian MFA said “security challenges and regional cooperation” were discussed.

About Civil Georgia
Civil.Ge © 2001-2015, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.