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24 October, 2023 16:27

The court forbade businessman Arsen Kutaladze’s business partners to sell their shares - “Young Barristers”

The Civil Cases Panel of Tbilisi City Court satisfied the request of businessman Arsen Kutaladze’s (primary owner of restaurant “Urmuli”) family and forbade the three companies and their current owners from selling the shares and encumbering them. The organization “Young Barristers” spreads the statement about that.

Based on the case materials, the organization “Young Barristers” notes out, that the plaintiff is Marine Tsamalaidze, the successor wife of deceased businessman. Arsen Kutaladze was involved in various business activities. In particular, since April 13, 2011, he was the director and 100% shareholder of LLC “AMD”, since May 29, 2013 he was the director and 100% shareholder of LLC “LTD. NAN”, but at the same time he owned an unregistered share in LLC “K.M.K & Company”, founded on September 28, 2005; LLC “Radamotors”, founded on May 2, 2006 and LLC “A.M. Trans”, founded on September 15, 2017. In particular, Arsen Kutaladze owned a 33.3% share in LLC “K.M.K & Company” founded on September 28, 2005. Arsen Kutaladze owned a 33.3% share in LLC "Radamotors", founded on May 2, 2006. Arsen Kutaladze owned a 50% share in LLC "A. M. Trans", Founded on September 15, 2017. Arsen Kutaladze received income from the mentioned companies, carried out the full financial management of the companies, but due to the business partners who had registered the shares in the mentioned companies - Merab Kutaladze, who is his brother, and Davit Katamadze, with whom there is a relationship through christering, taking into account the special trust and family relationship, the data of shares weren’t officially disclosed.

The organization notes out that Arsen Kutaladze died under still unknown circumstances on January 9, 2019, and on August 7, 2019, an inheritance certificate was issued, but Arsen Kutaladze’s unregistered shares in LLC “K.M.K & Company”, founded on September 28, 2005; LLC “Radamotors”, founded on May 2, 2006 and LLC “A.M. Trans”, founded on September 15, 2007, wasn’t found in it. The fact of ownership, existence, authenticity (of the mentioned unregistered shares) and receipt of financial benefits in the appropriate proportion is confirmed by Arsen Kutaladze’s business partners, who have already gave testimonies about the issue to Tbilisi Police Department Vake-Saburtalo Division 4th Subdivision.

The audio recordings of the meetings of February 22, 2019 and March 8, 2019, including the meetings with the participation of a monk relative to the family, which are presented in the case and verified by the investigation and expertise, confirm the fact of the existence of Arsen Kutaladze’s unregistered shares in the companies established on September 28, 2005; May 2, 2006 and September 15, 2017, precisely with the volume and proportionality that is presented in the form of claim in the court. The brother - Merab Kutaladze and the partner of the deceased businessman, Davit Katamadze promised Marine Tsamalaidze that Arsen Kutaladze's unregistered shares would be registered in the name of his minor children, but so far - without results. Thus, the family applied to the court to restore the violated right and to obtain ownership of the share.

Based on the court’s argumentation, the claim is the registration of the plaintiff as the owner of the defendant companies’ shares, which are currently registered in the name of defendant Merab Kutaladze and Davit Katamadze. The defendants may sell the disputed shares or encumber them, which will make it difficult or impossible to actually enforce the court’s decision in the future.

The court explains that if there is no tool to satisfy the claimant after the decision enters into legal force, for example, if the property is sold, the decision becomes an unforceable decision. The court is obliged not only to correctly and objectively decide the dispute between the parties, but also to ensure that the future decision will be enforceable. Under these circumstances, depending on the nature of the claim, the court believes that by prohibiting the defendants from selling and encumbering the shares, the legal guarantees will be created by which the plaintiff’s claim will be enforceable, if the court considers the claim justified. The essence of the provisional measure is that the defendant can’t sell the property and the plaintiff, in case the claim is satisfied by the court, doesn’t face the danger of non-enforcement of the legally binding decision.

It should be noted out, that the defendant companies and registered shareholders didn’t appeal the court’s decision.

For information:

The organization, together with Georgian and foreign specialists, is starting to study the case of businessman Arsen Kutaladze’s incitement to suicide, which will address the analysis of the investigative process results and the evaluation of the Common Courts’ decisions. On January 9, 2019, a criminal case investigation (under Article 115 of the Criminal Code, which implies incitement to suicide) was started by Tbilisi Police Department Vake-Saburtalo Division 4th Subdivision, on the fact of Arsen Kutaladze’s death in the territory of “Rompetrol” gas station, located on Davit Aghmashenebeli alley 9th km, Tbilisi. The businessman was found dead as a result of consuming narcotic substances, but family and case specialists exclude the credibility of the mentioned initial version. Arsen Kutaladze leaves home in the morning, goes to a meeting, it is impossible to contact him during the day, he doesn’t answer incoming calls, and in the evening he is found dead in the workplace. Based on the case materials, it is established that Arsen Kutaladze was willing to leave the registered and unregistered shares of the business and continue his activities in the construction field. Therefore, the partners faced the issue of share compensation payment, which exceeds one million. Accordingly, it can’t be ruled out that the businessman’s death was caused by other factors which aren’t ruled out by the investigation either, relevant questions are being asked to study the relationship between the partners and investigative actions are ongoing.

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