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Elite Electronics Founder hopes to get the Company back this Year

Published: July 5, 2013 | 11:54 am
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The founder of Elite Electronics Anzor Kokoladze says that he hopes to regain control over the company by the end of 2013. The businessman has told TV3 that the case is currently being studied both by the Tbilisi Prosecutor’s Office, and by the courts in Strasbourg. Mr. Kokoladze also claims that the TBC Bank, whom he blames for having the company taken away from him, are currently trying to cover their tracks. He specifically accuses TBC of trying to sell off real estate properties which they had illegally acquired at miniscule prices under the previous government.

Anzor Kokoladze’s allegations are categorically being refuted by the TBC Bank. A spokesman for the bank has told TV3 that Mr. Kokoladze is attempting to blackmail TBC, and is making unreasonable demands to have the 100% stake in Elite Electronics returned to him. The dispute between Mr. Kokoladze and the TBC Bank arose in 2010. The businessman has accused TBC of misappropriating and subsequently selling off various properties. On his part, Mr. Kokoladze himself stood trial over allegations of fraud under the previous government.

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