About Civil.ge
Eng | Geo | Rus
Last updated: 18:34 - 7 Dec.'16
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
07 Dec.'16 18:34
Georgian FM Hails Raising Georgia’s Issue at UN Security Council
Permanent Mission of Georgia to the United Nations thanked Ukraine for initiating discussion on Georgia.
07 Dec.'16 12:46
Georgian President Visits France
Margvelashviil will participate in the 4th Open Government Partnership Global Summit.
06 Dec.'16 18:34
U.S., Georgia Sign Framework Agreement on Security Cooperation
The document outlines key tasks of cooperation for 2016-2019.
06 Dec.'16 15:16
U.S. Deputy Assistant Secretary of Defense Visits Georgia
Bilateral defense and security cooperation “moves to a new stage,” the Georgian PM’s office said.
06 Dec.'16 13:10
Georgian Foreign Minister Visits Brussels
Janelidze will take part in the Resolute Support Mission meeting on Wednesday.
05 Dec.'16 18:27
Head of Adjara’s Local Government Approved
The newly elected Supreme Council of Adjara re-confirmed Zurab Pataradze on this post.
05 Dec.'16 18:00
Revised Draft of 2017 State Budget
The government projects 4% economic growth next year, according to the revised draft.
05 Dec.'16 13:01
New Head of Georgian Border Police Appointed
Dato Nikoleishvili has been appointed to this position.
02 Dec.'16 21:52
EU, Georgia Hold Third Association Council Meeting
EU foreign policy chief Federica Mogherini said “enormous progress” discussed at the meeting.
02 Dec.'16 20:06
Tusk: Georgia Deserves Timely and Positive Finalization of Visa Liberalisation
PM Kvirikashvili met the European Council President during his visit to Brussels.

About Civil Georgia
Civil.Ge © 2001-2016, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
52