SHARABIDZE AND OTHERS v. GEORGIA

Published on 13 December 2021 FIFTH SECTIONApplication no. 28062/20Nikoloz SHARABIDZE and Othersagainst Georgialodged on 8 July 2020communicated on 23 November 2021SUBJECT MATTER OF THE CASEThe application concerns the allegedly disproportionate seizure by the Bank of Georgia of the four applicants’ property. The first applicant is the General Director of the second applicant company, Ltd. Inzhmsheni, and the third applicant is his wife. In 2007 the second applicant signed a loan agreement with the Bank of Georgia under which the latter was to provide the applicant with a line of credit in the amount of up to 10,000,000 US Dollars. The first, third and fourth applicants acted as guarantors, using their private property as collateral. Following the failure of the second applicant to meet its credit obligations and in line with relevant agreements concluded by the four applicants with the …