UK court to rule on Ivanishvili case amid high risk he still cannot access funds, analyst warns

Even if the upcoming London court decision is favourable to Bidzina Ivanishvili, there remains a high likelihood that the Georgian billionaire will still be unable to access the disputed funds, according to Irakli Absadze, founder of the  Centre for Civil Involvement. 

Absadze told the press that two key factors created significant obstacles for Ivanishvili, regardless of the court’s ruling scheduled for 24 November.

“Even with a positive judgement, there is a very high probability and serious risks for Ivanishvili that he will not be able to receive this money,” Abesadze said. “There are two main reasons for this.”

The first factor, Abesadze explained, stemmed from a special licence issued by the United States in December last year, when Washington imposed sanctions on Ivanishvili.

According to this document, more than USD 400 million awarded to Ivanishvili by a Singapore court was frozen. The licence further stipulated that any other related legal claims involving the same parties were also subject to enforcement restrictions.

Given that the current dispute in London involved the same entities, Abesadze believed the US licence may effectively prohibit the transfer of any funds to Ivanishvili even if he wins the case.

The second major risk, he said, was the real possibility of the United Kingdom imposing its own sanctions on Ivanishvili.

“There is active discussion regarding potential UK sanctions, and it is highly realistic that they could be introduced,” Abesadze noted.

The High Court in London is set to deliver its final ruling on the Bermuda-originated dispute involving Ivanishvili’s assets on 24 November.