Lawyer's office scores another triumph in the protracted Anaklia Port project debate, favoring Georgia once more

Lawyer's office scores another triumph in the protracted Anaklia Port project debate, favoring Georgia once more

ICSID Tribunal Dismisses Dutch Businessman's Claims Against Georgia

In a landmark decision, an International Centre for Settlement of Investment Disputes (ICSID) tribunal has ruled in favour of Georgia, dismissing claims brought by Dutch businessman Bob Meijer against the country. The ruling, issued on July 30, 2025, brings an end to a long-running dispute that has been highly mediatized and politicized in Georgia.

The dispute centred around Meijer's 6.06% indirect shareholding interest in the Anaklia Development Consortium (ADC) and the termination of an investment agreement between ADC and Georgia for the development and operation of a deep-sea port in Anaklia, Georgia.

The ICSID tribunal, chaired by Charles Nairac, John Willems, Noor Davies, Bachir Sayegh, Yutty Ramen, Ece Akıncıbay, Yasmine El Achkar, Élise Roussel, and Konstantine Kopaliani, unanimously dismissed Meijer's claims in their entirety. The key reasons for the decision were:

1. Lack of a qualifying protected investment: The tribunal found that Meijer's investment in Anaklia City JSC did not qualify as a protected investment under the Netherlands-Georgia BIT and the ICSID Convention, as the company had not secured the right to develop the free industrial zone adjacent to Anaklia Port.
2. Georgia's lawful termination of the investment agreement: The tribunal held that Georgia was justified in ending the contract due to ADC's failure to secure financing despite multiple deadline extensions.
3. The tribunal explicitly found that the government was not responsible for ADC's contractual failures or project non-implementation.
4. The investor, Bob Meijer, bore all commercial risks of the project and failed to meet contractual obligations.

Consequently, Meijer's claim for nearly $70 million in compensation was dismissed, and he was instead ordered to pay $6.5 million to Georgia to cover fees and arbitration costs.

It is worth noting that the ICSID tribunal's decision follows a ruling made by the International Chamber of Commerce (ICC) tribunal one year prior, which dismissed all of ADC's claims under the investment agreement governed by Georgian law. Both tribunals were presented with the same documentary evidence and witness testimony, including testimony from Messrs. Khazaradze and Japaridze, as well as other ADC representatives.

The ICSID award could potentially bring an end to the public controversy surrounding the Anaklia Port project in Georgia. The decision confirms that Georgia did not breach any of its treaty obligations with respect to Meijer's investment in the Anaklia Port project. However, the award does not specify any further compensation for Georgia, as the tribunal found that Meijer's investment in Anaklia City JSC did not constitute a protected investment under the Netherlands-Georgia BIT and the ICSID Convention.

[1] [ICSID Case No. ARB/20/34] [2] [ICC Case No. 20483/GE/3]

1. The ICSID tribunal, consisting of Charles Nairac, John Willems, Noor Davies, Bachir Sayegh, Yutty Ramen, Ece Akıncıbay, Yasmine El Achkar, Élise Roussel, and Konstantine Kopaliani, unanimously dismissed Bob Meijer's claims in their entirety.
2. The key reasons for the ICSID tribunal's decision were the lack of a qualifying protected investment and Georgia's lawful termination of the investment agreement.
3. The tribunal found that Meijer's investment in Anaklia City JSC did not qualify as a protected investment.
4. The tribunal held that Georgia was justified in ending the contract due to ADC's failure to secure financing.
5. The government was not responsible for ADC's contractual failures or project non-implementation, according to the ICSID tribunal.
6. Bob Meijer bore all commercial risks of the project and failed to meet contractual obligations, as stated by the ICSID tribunal.
7. As a result, Meijer's claim for nearly $70 million in compensation was dismissed, and he was ordered to pay $6.5 million to Georgia to cover fees and arbitration costs.
8. The ICSID award, available on whitecase.com, could potentially bring an end to the public controversy surrounding the Anaklia Port project in Georgia.

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