About Civil.ge
Eng | Geo | Rus
Last updated: 14:35 - 28 Aug.'15
 
RSS
Mobile
Twitter
Facebook
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
28 Aug.'15 14:35
ADB Approves USD 20m Loan for Batumi Coastline Protection
The loan will be used to fund works to protect Black Sea resort’s 5km coastline from erosion.
28 Aug.'15 13:09
Parliament Speaker Says NATO Has to Bring Clarity over MAP
Usupashvili said Membership Action Plan should not be an issue of “political speculation”.
27 Aug.'15 18:19
Russia Says NATO-Georgia Training Center ‘Destabilizing Factor’
Russian MFA said that opening of the center in Georgia is continuation of NATO’s “provocative policy.”
27 Aug.'15 16:41
NATO, Georgia Open Joint Training Center
The center, designed to train Georgian, NATO and partner nations’ troops, is not yet fully operational.
27 Aug.'15 13:57
Stoltenberg: NATO-Georgia ‘Substantial Package Delivering Tangible Results’
“There is more Georgia in NATO and more NATO in Georgia,” Stoltenberg said in Tbilisi.
27 Aug.'15 11:26
GD Recruiting ‘Independent Experts’ for Campaign Platform
Georgian Dream announces on job-search website about intention to recruit 60 “experts”.
26 Aug.'15 21:47
NATO Secretary General Visits Georgia
NATO Secretary General Jens Stoltenberg arrived in Tbilisi on Wednesday evening.
26 Aug.'15 17:09
GEL Recovers Slightly
After losing over 3.5% against dollar in two previous days, lari was up 1.6% on Wednesday.
26 Aug.'15 12:58
Police Say 5kg Cocaine Seized at Tbilisi Airport
Last week the Interior Ministry announced about “exposing new route of drug trafficking.”
25 Aug.'15 17:22
GEL Continues to Slide
Lari fell on Tuesday to its weakest against the U.S. dollar in 16 years and five months.

About Civil Georgia
Civil.Ge © 2001-2013, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
44