Statement by Irakli Rukhadze

In the recent interview to TV “Formula”, Mr. Mamuka Khazaradze has stated that I took my ex-partners’ money and as a result was charged by the English court for “fraud”. He also alluded that I had not paid the judgment sum. Mr. Khazaradze used the above statement to question Imedi TV’s moral authority to ask him questions about events that transpired 15 years ago.

Mr. Khazaradze’s statement is factually incorrect and entirely wrong. Mr. Khazaradze clearly has no idea what he is talking about and did not bother to check the actual facts before making his statement.

The English court case concerns a technical breach of duty that a judge found was owed to the claimant company that had a potential business opportunity (not even a contract was in place) back in 2011. Moreover, there was never at any point in almost 9 years of court proceedings any findings of fraud or dishonesty on part of Hunnewell Partners or myself. In fact, the English court of appeal specifically found that ”…that there was no finding of dishonesty on the part of the defendants” (para 125 of the CoA judgment). Moreover, the court found that ”the defendants would have been free to exploit the business opportunity for their own benefit once they had resigned” had they resigned properly.

My partners and I were charged with improper resignation, even though we had taken legal advice from English lawyers and believed at the time to have taken all proper steps. Again, there was no finding at any time of fraud or dishonesty in almost 9 years of court proceedings.

Finally, Hunnewell Partners and I have already paid a substantial majority of the judgment sum and associated costs, in full compliance with court orders to date.

If Imedi TV’s questions to Mr. Khazaradze were for some reason inappropriate, we are ready to discuss and correct it, if explanation is given to us. However, the reason given by Mr. Khazaradze why Imedi TV had no right to ask him questions, given that I was supposedly found to be a fraudster, is simply factually incorrect and insulting to me and my partners.

Lastly, some of the monies paid to the claimants to date were borrowed from TBC Bank. If Mr. Khazaradze really believes that fraud had been committed by me and my partners, he could check this fact with TBC Bank, where Mr. Khazaradze is a shareholder. Especially, given that details surrounding this fact are publicly available.