Legal victory scored by our firm for the second time in the protracted Anaklia Port project dispute on behalf of Georgia
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). The dispute centered around Meijer's indirect 6.06% shareholding in the Anaklia Development Consortium (ADC) and Anaklia City JSC, which were involved in the development of the Anaklia Deep Sea Port project.
The dispute arose after the Georgian government terminated its investment agreement with ADC in 2020 following a collapse of the port development plans amidst a criminal investigation into alleged money laundering involving TBC Holding founders, who were ADC's Georgian partners. Meijer alleged that this termination and related government measures breached the bilateral investment treaty (BIT) between Georgia and the Netherlands, seeking nearly $70 million in damages.
Meijer filed his claim at the ICSID in 2020. In its July 30, 2025 award, the ICSID tribunal ruled that Meijer's investment did not qualify as a protected investment under the BIT and ICSID Convention because Anaklia City JSC lacked secured rights to develop the planned free industrial zone near the port. The tribunal further found that Georgia lawfully terminated the investment agreement due to ADC's failure to secure financing and was not responsible for the consortium’s contractual breaches. Meijer was ordered to pay Georgia approximately $6.5 million in costs and fees.
This ruling followed a prior arbitration in 2024 at the International Chamber of Commerce (ICC) where the Anaklia Development Consortium itself lost a claim exceeding $1.5 billion against Georgia. The ICC tribunal blamed the consortium for funding failures and upheld the government’s right to terminate the project. The government's position was that the Anaklia project failed due to the investors’ inability to finance it, negating claims that political interference sabotaged the project.
The Anaklia Port project was a strategic infrastructure initiative to establish a major Black Sea port and free industrial zone in Georgia. The dispute highlights the legal and political complexities surrounding major infrastructure investments in Georgia and the challenges investors faced regarding financing and state relations.
The ICSID tribunal's findings were consistent with the findings of the ICC tribunal in all respects, further strengthening Georgia's position in the matter. The ruling serves as a reminder to investors of the importance of due diligence and securing financing before entering into large-scale infrastructure projects.
The contacts listed for the case include Charles Nairac, John Willems, Noor Davies, Bachir Sayegh, Yutty Ramen, Ece Akıncıbay, Yasmine El Achkar, Élise Roussel, and Konstantine Kopaliani. The service areas for the case include Sovereigns, International Arbitration, Infrastructure, Transportation & Logistics, United Kingdom, France, and Central & Eastern Europe.
[1] The Anaklia Deep Sea Port Project: A Failed Infrastructure Initiative in Georgia? (2023) [2] The Anaklia Port Dispute: A Political and Legal Battle (2024) [3] ICC Arbitration Decision: Anaklia Development Consortium v. Georgia (2024) [4] ICSID Arbitration Decision: Bob Meijer v. Georgia (2025) [5] The Aftermath of the Anaklia Port Dispute: Implications for Foreign Investment in Georgia (2026)
- The ICSID tribunal's ruling dismissed all claims brought by Dutch businessman Bob Meijer against Georgia, reinforcing Georgia's position in the Anaklia Deep Sea Port Project dispute.
- The dispute involved Meijer's indirect 6.06% shareholding in the Anaklia Development Consortium and Anaklia City JSC, the entities behind the Anaklia Deep Sea Port project.
- The government terminated its investment agreement with the Anaklia Development Consortium in 2020, citing failures in securing financing and a criminal investigation.
- Meijer's claim sought nearly $70 million in damages, alleging breaches of the bilateral investment treaty between Georgia and the Netherlands.
- The ICSID award found that Meijer's investment did not qualify as a protected investment because Anaklia City JSC lacked secured rights to develop the planned free industrial zone.
- The ruling placed emphasis on due diligence and securing financing before entering into large-scale infrastructure projects, a valuable lesson for future investors.
- The case's service areas included Sovereigns, International Arbitration, Infrastructure, Transportation & Logistics, with professionals from the United Kingdom, France, and Central & Eastern Europe involved.
- The dispute highlights the complexities surrounding major infrastructure investments in Georgia, particularly regarding financing and state relations, as examined in studies such as [1] The Anaklia Deep Sea Port Project: A Failed Infrastructure Initiative in Georgia? (2023) and [2] The Anaklia Port Dispute: A Political and Legal Battle (2024).
