“I decided to sell “Rustavi 2″ through a transparent competition,” – Kibar Khalvashi the owner of 100% of the Broadcasting Company released this statement today.

As Khalvashi noted in his statement the company faces a severe financial crisis and the competition must be completed within a week.

The statement reads as follows:

“Almost a month has passed since I returned the broadcasting company Rustavi 2 after years of litigation. Of course, I assumed that the former CEO of the company, who saw the “Rustavi 2” only as an instrument of political struggle, did not manage the company in a good manner. Suddenly appeared that he robbed the company.

It has been repeatedly stated that since the beginning of the litigation, the former Director-General of “Rustavi 2” has used all means to harm the company. Probably everyone remembers that I demanded for the company to be temporary transferred in order to be avoided loss in November 2015. Unfortunately, the result was what I was expecting.

The former CEO is now openly threatening the company. It is clear for me from the very first day of the dispute, it was precisely the destruction of the “Rustavi 2,” and the threat was practically fulfilled, – the verification of my words is very easy.

Today I can state with full responsibility that the broadcasting company “Rustavi 2,” under the care of Nika Gvaramia, has been in a catastrophic conditions for several years. Its credit debt is approaching to GEL 70,000,000, of which only GEL 27,000,000 is owed by the state budget. “Rustavi 2” has debt of nearly everyone – from water supply company to an exit-polling American company. Much of the debt has been accumulated over the last few years, just in time for the dispute, and it was clear that things were going with the interests of Gvaramia. I would also say that the talk is absurd that our demand for a seizure harmed the company. I have not yet found any expert justification or conclusion that would confirm this loss.

The schemes are clear for me, how the company worked and where and how it owed money, but this is another matter and I am sure I will win this dispute too.

Prior to that, the company was the survivor of a bankruptcy. Today there are all the factual and legal grounds for starting a company insolvency case.

Unfortunately, my financial ability to pull the company out of a deep crisis is not enough. Therefore, I would like to say openly and publicly that I am ready to talk to any interested person who will buy “Rustavi 2,” help to get out of the crisis and become a successful company.
The only one I am not going to talk to is Mikheil Saakashvili, the former informal owner and manager of “Rustavi 2.”

I decided to sell “Rustavi 2” through a transparent competition to those who would pay the highest price. The company is facing a severe financial crisis, the competition must be completed within a week. At the same time, in order to avoid political or other manipulations, I will speak only to those who prove their intentions, which may be a bank guarantee or a deposit of at least $ 1,000,000 into a special contest account. The winner of the competition, will gets the company with the prove of deposit, and for the loser – the money will be refunded, and if the winner does not fully pay the company fee within the set deadline, he will lose the guarantee amount.

Anyone wishing to respond to my proposal will be obliged to express their position publicly, after which I will be ready to discuss. I hope “Rustavi 2” will become a successful company again! Until then, we continue to work to overcome current problems and solve first-rate tasks”, – reads the statement.

On July 18, the European Court of Human Rights published a judgment into the case of Rustavi 2. Chamber of the European Court of Human Rights (ECHR) declared there has been no breach in fair trial guarantees in Rustavi 2 ownership dispute. On the same day, TV Company was returned under Kibar Khalvashi’s ownership.  The National Public Registry (NAPR) registered Paata Salia, the lawyer of Kibar Khalvashi, as the Director-General of Rustavi 2 TV Company.