Cartu and Progress seized

Ivanishvili to start arbitration with government

By | August 2nd, 2012|Categories: News|Tags: |

TBILISI, DFWatch – Saakashvili’s potential nemesis, the businessman Bidzina Ivanishvili, has lodged a an arbitration case against the Georgian government. Maia Panjikidze, spokesperson for Georgian Dream coalition, said at a briefing Wednesday that the law […]

Government took millions in loans while running Cartu Bank

By | July 31st, 2012|Categories: News|Tags: |

TBILISI, DFWatch – While the opposition affiliated Cartu Bank was temporarily under state management recently, USD 50 million was taken in loans. The bank, which is associated with President Saakashvili’s main competitor Bidzina Ivanishvili, plans to go to court […]

Ivanishvili given back control over shares in Cartu and Progress

By | July 27th, 2012|Categories: News|Tags: |

TBILISI, DFWatch – A bank director in Georgia who authorities removed from his job will get his old job back. This follows from a decision to revoke the seizure of all 100 percent shares in Cartu Group and 22 percent of Progress Bank, effective Thursday […]

Cartu Bank’s entire management fired

By | July 13th, 2012|Categories: News|Tags: |

TBILISI, DFWatch – After Georgian authorities took over Cartu Bank in a criminal forfeiture process, the interim manager has fired the entire old management. Vladmer Ugulava, who now controls the bank on behalf of the government, yesterday fired both […]

Cartu Group and Progress Bank seized by authorities

By | July 12th, 2012|Categories: News|Tags: |

TBILISI, DFWatch – The National Enforcement Bureau has asked Tbilisi City Court to transfer the shares of Cartu Group and Progress Bank to a compulsory management regime. The Enforcement Bureau seized all 100 percent shared that Georgian Dream coalition leader Bidzina […]