Legal triumph for Georgia's law firm in Anaklia Port project disagreement, marking their second consecutive victory.
In a significant ruling, an International Centre for Settlement of Investment Disputes (ICSID) tribunal unanimously dismissed all claims brought by Dutch businessman Bob Meijer against Georgia under the Georgia-Netherlands Bilateral Investment Treaty (BIT) regarding the Anaklia Port project.
The dispute, which arose after the Georgian government terminated its agreement with the Anaklia Development Consortium (ADC) in 2020, saw Meijer seeking $64 million in compensation, alleging wrongful termination and failure to support the project.
However, the ICSID tribunal found that Meijer's investment in Anaklia City JSC did not constitute a protected investment under the BIT and the ICSID Convention. The tribunal also agreed with Georgia that it did not breach any of its treaty obligations related to Meijer's investment in the Anaklia Port project.
The tribunal further ruled that Georgia was within its rights to terminate the investment agreement due to ADC's failure to secure financing for the project. It was also noted that Meijer and his partners bore the commercial risks and failed to fulfill contractual obligations.
In a further victory for Georgia, the ICSID tribunal awarded the country all of its fees and arbitration costs in the ICSID arbitration, amounting to US$6.5 million.
The White & Case LLP team, led by partners Charles Nairac, John Willems, and Noor Davies, represented Georgia in the dispute. The team included counsel Bachir Sayegh and associates Yutty Ramen, Ece Akıncıbay, Yasmine El Achkar, Élise Roussel, and Konstantine Kopaliani.
The dispute centred on Meijer's 6.06% indirect shareholding in ADC and Anaklia City JSC. It is worth noting that this ICSID award follows a similar victory in July 2024, when an International Chamber of Commerce (ICC) tribunal dismissed all of ADC's claims under the investment agreement governed by Georgian law.
Following the decision, Meijer and ADC expressed disappointment and blamed the Georgian government for not supporting the project, while the Georgian Ministry of Justice welcomed the ruling, stating the failure of Anaklia was the investors’ responsibility. The opposition party, however, contested the government's position, alleging political motives behind the project's collapse.
References: [1] Anaklia Port dispute: ICSID tribunal dismisses Dutch businessman's claim against Georgia, Georgian Journal, 2025. [2] Anaklia Port dispute: ICSID tribunal rules in favour of Georgia, Civil.ge, 2025. [3] Anaklia Port project dispute: ICSID tribunal orders Dutch businessman to pay $6.5 million to Georgia, Agenda.ge, 2025. [4] Anaklia Port dispute: ICSID tribunal rejects Dutch businessman's $64 million claim, InterPressNews, 2025. [5] Anaklia Port project: Dutch businessman's claim against Georgia dismissed by ICSID tribunal, Georgia Today, 2025.
- The International Centre for Settlement of Investment Disputes (ICSID) tribunal, after a unanimous decision, dismissed all claims brought by Dutch businessman Bob Meijer against Georgia, relating to the Anaklia Port project.
- In the dispute, Meijer sought $64 million in compensation, alleging wrongful termination and failure to support the project, but the ICSID tribunal found that his investment did not constitute a protected investment.
- The ICSID tribunal also ruled that Georgia did not breach any of its treaty obligations related to Meijer's investment and was within its rights to terminate the investment agreement.
- The White & Case LLP team, which included partners Charles Nairac, John Willems, and Noor Davies, represented Georgia in the dispute and successfully secured an award of US$6.5 million for Georgia's arbitration costs.
- The dispute centered on Meijer's indirect shareholding in the Anaklia Development Consortium (ADC) and Anaklia City JSC, and this ICSID award follows a similar victory in July 2024, when an International Chamber of Commerce (ICC) tribunal dismissed all of ADC's claims.
- Following the decision, Meijer and ADC expressed disappointment and blamed the Georgian government, while the Georgian Ministry of Justice welcomed the ruling.
- The opposition party, however, contested the government's position, alleging political motives behind the project's collapse.
