Law firm clinches another decisive win for Georgia in the protracted legal battle over the Anaklia Port venture
In a significant ruling, an International Centre for Settlement of Investment Disputes (ICSID) tribunal has dismissed claims brought by Dutch businessman Bob Meijer against the Government of Georgia. The dispute revolved around Meijer's indirect investment in the Anaklia Development Consortium (ADC) and related entities involved in the Anaklia Port project.
Meijer initiated ICSID arbitration proceedings in July 2020, alleging that Georgia breached its obligations under the Netherlands-Georgia Bilateral Investment Treaty (BIT) by terminating the investment agreement and taking actions that undermined the Anaklia Port project and the planned adjacent free industrial zone. He sought nearly US$70 million in compensation, reflecting his shareholding interest in ADC and losses related to the project.
The ICSID tribunal, which heard evidence and testimony similar to that presented in a parallel International Chamber of Commerce (ICC) tribunal, unanimously dismissed Meijer's claims in July 2025. The tribunal ruled that Meijer's investment in Anaklia City JSC (one of ADC's affiliates) was not a protected investment under the BIT or ICSID Convention because Anaklia City JSC had not secured rights to develop the free industrial zone.
The tribunal also found that Georgia did not breach its treaty obligations regarding Meijer's investment. It justified Georgia's termination of the investment agreement based on ADC's failure to finance the project and held that Meijer bore the commercial risks and failed to meet contractual funding obligations. As a result, Meijer was ordered to pay Georgia US$6.5 million in arbitration costs.
Simultaneously, founders of ADC, Mamuka Khazaradze and Badri Japaridze, who had filed a separate ICC arbitration claim over the Anaklia Port project, also lost their dispute. The Georgian Ministry of Justice attributed the failure of the project solely to ADC leadership and investors, rejecting government responsibility.
White & Case represented Georgia successfully in this ICSID arbitration. The ICSID award marks the end of a long-running dispute surrounding the Anaklia Port project, which was highly mediatized and politicized in Georgia.
Key Points
- Claimant: Bob Meijer, Dutch businessman (~6% indirect shareholder in ADC)
- Respondent: Government of Georgia
- Dispute Origin: Termination of investment agreement and government measures affecting Anaklia Port and free industrial zone projects
- Tribunal Decision Date: July 2025
- Outcome: Claims dismissed; Meijer's investment not protected under BIT; Georgia's termination lawful; Meijer ordered to pay $6.5M in costs
- Compensation Sought: Nearly US$70 million
- Actual Award: None to Meijer
- Related ADR Cases: Parallel ICC arbitration by ADC founders Khazaradze and Japaridze, also lost
- ICSID tribunal did not give binding effect to the ICC award under the doctrine of collateral estoppel
- The dispute concerned Meijer's investment in the Anaklia Development Consortium (ADC), a Georgian company
This ICSID ruling confirms that the failure to implement the Anaklia Port project was attributable to investors' inability to fulfill contractual obligations, not to unlawful acts by the Georgian government.
- White & Case served as the counsel for Georgia in the International Centre for Settlement of Investment Disputes (ICSID) arbitration against Bob Meijer, a Dutch businessman.
- The dispute centered around Meijer's indirect investment in the Anaklia Development Consortium (ADC) and related entities involved in the Anaklia Port project.
- The tribunal, which delivered its decision in July 2025, dismissed Meijer's claims, ruling that his investment was not protected under the Netherlands-Georgia Bilateral Investment Treaty (BIT).
- Meijer sought nearly US$70 million in compensation, reflecting his shareholding interest in ADC, but the tribunal ordered him to pay US$6.5 million in arbitration costs instead.
- The ICSID tribunal did not give binding effect to an ICC award under the doctrine of collateral estoppel in this case.
- The ruling confirmed that the failure to implement the Anaklia Port project was due to investors' inability to fulfill contractual obligations, not to unlawful acts by the Georgian government.
- Simultaneously, separate ICC arbitration claims by ADC founders Mamuka Khazaradze and Badri Japaridze were also lost.
- This case involved legal services from White & Case LLP and was a significant point in practice, rounding off a long-running dispute surrounding the Anaklia Port project.
