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New Details in the Cartu Bank Bankruptcy Case

Published: October 7, 2013 | 11:07 am
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Have the companies that are being accused of leading the Cartu Bank towards bankruptcy repaid their debts towards the bank one year later? The Director of Credit Department at Cartu Zurab Gagua has told TV3 that decisions have only been made with regards to 20% of the existing debt at this stage. According to him, the due amounts have been fully repaid in some cases, and previous loan agreements have been restored with companies in other cases. A total of 10 companies figure in the case, and 6 of them are still facing trial. Mr. Gagua has not specified which companies have repaid their debts, though according to him, no agreement has been reached with the shopping centre Pirimze’s owner Laura Ghachava yet. The sustained damage has had an impact both on the bank’s development and its financial figures, Mr. Gagua added.
The Ministry of Internal Affairs uncovered a criminal scheme which aimed to bankrupt the Cartu Bank. Various companies are being charged with appropriating funds. The bank had loaned up to GEL 140 million to the enterprises.

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