NEWS

Information about the lien lift put on Batumi assets of Batumi Terminals limited


Under the ruling of the Batumi City Court dated June 12, 2015 the Act of Reconciliation dated April 23, 2015 between Batumi Oil Terminal, on the one hand, and Vibro Diagnostik branch of the foreign company, on the other hand, was approved.

Under the ruling of the Tbilisi City Court dated July 13, 2015 the Act of Reconciliation dated April 23, 2015 between Batumi Oil Terminal, Batumi Terminals Limited, Petrotrans Limited, on the one hand, and Vibro Diagnostik branch of the foreign company, as well as Libra Trading FZC, on the other hand, was approved. In addition, according to a court decision, it was decided to lift the attachment, a previously imposed a 100% stake of the company «Batumi Terminals Limited» (Cyprus) in the «Batumi Oil Terminal» (Georgia), on the exclusive right of «Batumi Oil Terminal» to control 100% of shares of «Batumi Sea Port» (Georgia) and immovable property of «Batumi Oil Terminal».

Based on this Tbilisi City Court ruling National Agency of Public Registry of Ministry of Justice of Georgia on July 22, 2015 it withdrew the arrest of the above listed property.





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