The organization “Young Barristers” appeals to the Office of Prosecutor of Georgia to husten  investigation of the  JCS “Intellect Bank” case, and make those, involved in the process of    bankruptcy  and  confiscation of the Bank  from its legal owner, answerable for their illegal  actons.

According to the statement of the chief executive of the organization, Archil Kaikatsishvili, one more case of illegal confiscation  of the property,  has been disclosed  before the society. This case  directly raises  the issue  of the lagal liability of Giorgi Qadagidze _ current president of the National Bank of Georgia. According to the existing evidences,  the Provisional Administration of the National Bank of Georgia ,  entered    the “Intellect Bank”  , carring  out illegal and harmful actions for the bank  and  at the end ,  sold it  for the symbolic price , 1 GEL , to the JCS “Bank of Georgia”. Provisional Administration  was headed by Giorgi Qadagidze.

According to the organization’s appraisal, the guilt of Giorgi Qadagidze towards  “Intellect Bank” , is clear , due to the fact, that the National Bank of Georgia  was doing its best to carry out measures,  that would    harm  the JCS “Intellect Bank” significantly .  In December 10, 2006 , Provisional Administration, created by the National bank of Georgia, together with the Special Operative Department (SOD)   of the Ministry of Internal Affairs’  unit,  broke into the “Intellect Bank”. Provisional Administration was headed by current President of the National Bank of Georgia, Giorgi Qadagidze. According to the present law, Provisional Administration  has legal right to enter the bank, only  if there is  urgent need for improving its financial situation. However , all the evidances prove, that  suh necessity hasn’t existed in the “Intellect Bank”. Every decision taken by Giorgi Qadagidze, was directed  to  the  bank bankruptcy . Yet, it is a fact, that Provisional Administration from the moment of its entrence , changed security guards, locked employees of the bank in the building for the  period 2 days and nights , they were refused to  leave  the  bank territory . By  means of using force, personal  threats and blackmail , employees were forced to disclose  information regarding the bank and  sign documants created by the Provisional Administration .  

The “Young Barristers”  has thoroughly studied the JCS “Intellect Bank” case and it should be by all means noted and underlined , that exactly the Provisional Administration has offered it for sale and was assigned to the “Bank of Georgia” for symbolic price_1 GEL. The case also clearifies the guilt of Vladimer Gurgenidze, the president of the “Bank of Georgia” for that time, due to the fact, that  some factual evidences show, that the deal had been pre-agreed between the parties. For instance, since the second day  of the entrence in the “Intellect Bank” , employees of the “Bank Of Georgia”  have started coming to the bank and implementing all the duties, including the  subordination of the employees and charging them with certain duties. They have taken off all signboards, called depositors and debitors, in order to transmit funds from “Intellect Bank” accounts to that of the “Bank of Georgia . It should also be noted, that these actions have been  implemented  before the  “Intellect Bank”  was officially joined to the “Bank of Georgia”  with the concent of the Provisional Administration of the National Bank, that is obvious violation of all kinds of regulations and legal procedures  operating in the field of banking.  

The “Young Barristers” demands from the Office of Prosecutor of Georgia to raise the case of legal liability of the former President of the National Bank of Georgia, Roman Gotsiridze,  due to the fact that the National Bank  has not  protected  the “Intellect Bank”  by means of  sufficient  control of the Provisional Administration ; accordingly it has promoted Intellect Bank to go bankrupt and finaly has led to it’s alienation.  In accordance with the law, main goal of the Provisional Administration should be the promotion of the economic indicator of the bank, after what, bank returns to the administration that is appointed by stockholders and shareholders. In Georgian reality, Provisional Administration has intervented in numerous commertial banks, in different periods. For instance , “Cartu Bank”, “Standard Bank” , “ Iver Bank ” and etc… However, in these cases, Provisional Administration has not implemented measures , disastrouse for the banks. On the background of the avidences,  existing in the case of  “Intellect Bank”,  the organization is talking about the precedent, that is hard to find not only within Georgian, but also within worldwide legal practice , when Provisional Administration sales bank by auction,which has never even announced and  held, for 1 GEl during just  two working days period.