Government of Georgia successfully spars a $1.5 billion ICC arbitration lawsuit filed by US investors regarding the termination of a deal for developing the Anaklia Port during its tenure.
The long-running ICSID arbitration dispute between the Government of Georgia and Dutch investor Bob Meijer, an indirect minority shareholder of Anaklia Development Consortium (ADC), has come to a close. On July 30, 2025, a final tribunal award was issued, dismissing Meijer's claims in full.
The dispute stemmed from the termination of an investment agreement for the development and operation of a deep-sea port in Anaklia, Georgia. Meijer had claimed compensation for breach of the BIT and alleged treaty violations concerning a planned free industrial zone.
The ICSID tribunal, chaired by Bernard Hanotiau with Klaus Sachs and Charles Poncet as co-arbitrators, unanimously ruled that Meijer's investment did not qualify as a protected investment under the Georgia-Netherlands BIT. The tribunal found that Georgia lawfully terminated the agreement due to ADC's failure to secure financing for the Anaklia Port project. No evidence of governmental interference or treaty breaches was found.
Meijer had sought nearly US$70 million in compensation, but all claims were rejected, and he was ordered to pay Georgia US$6.5 million for arbitration costs. This decision marks the second major legal defeat for the consortium and its investors in relation to the Anaklia Port project.
The firm representing the Government of Georgia specializes in navigating government influence and has previously been involved in the ICC arbitration proceedings against ADC in 2024, where the tribunal found in favor of Georgia.
The dispute was highly publicized in Georgia, with allegations of a government conspiracy to kill the Anaklia port project. Initially, ADC sought compensation of over US$1.5 billion, which was later reduced to around US$500 million.
As of August 2025, the ICSID arbitration dispute between Georgia and the indirect Dutch shareholder of ADC is conclusively resolved in favor of Georgia, with a final award dismissing the investor’s claims. The Government of Georgia continues to move forward with plans for the development of the Anaklia port and surrounding areas.
References: [1] [News Article 1] [2] [News Article 2] [3] [News Article 3] [4] [News Article 4] [5] [News Article 5]
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