International Business & Law – Salford Instructs International Lawyers to Prevent Expropriation of Standard Bank

TBILISI, Georgia– LAWFUEL – The International Law Newswire –Yesterday senior Salford executives based in London and Georgia met with the Prime Minister of Georgia Lado Gurgenidze along with other government officials. The purpose of the meeting was to seek an amicable resolution to the recent seizure of Standard Bank that would benefit the bank, its employees, clients and the overall reputation of the Georgian financial system.

Our efforts to seek resolution fell on deaf ears. This further reinforces our concern that this action was politically motivated in order to expropriate Standard Bank from its owners.

Our shareholders rights both under Georgian and international Law have been grossly violated. Accordingly, we have put the Georgian Government notice and all other individuals and entities involved on formal notice of potential legal claims.

(A copy of the letter to Prime Minister of Georgia is available on request)

Note to Editors

The international law firm Debevoise and Plimpton, with a team headed by former UK Attorney General Lord Goldsmith, has been retained by Salford’s investors to help protect the interests of shareholders and clients and to document the actions of the Georgian Government in legal filings with domestic and international institutions.

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