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23.04.2013 18:22

First Stereo Director – Representative of Offshore Company in Georgia

Nata Dzvelishvili
Articles Media Discusions

Tbilisi Court of Appeals restored David Zilfimian to the position of TV-Company First Stereo Director General 19 February 2013 although the decision has not been executed and changes have not been made to the Business Registry yet. 


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Tbilisi Court of Appeals restored David Zilfimian to the position of TV-Company First Stereo Director General 19 February 2013 although the decision has not been executed and changes have not been made to the Business Registry yet. 

According to David Zilfimian they are waiting whether or not the other party will appeal against the decision. 

“There are deadlines for cassation which will expire in several days and we will come into legal force,” Zilfimian told media.ge. 

According to Civil Procedural Code there are 21 days for cassation.  Deadline countdown starts from the moment of handover of decision to parties. 

For the moment Zviad Amiridze still remains official Director General of the TV-Company who was appointed to the given position 9 January 2013 by unilateral decision from the holder of 65% of First Stereo shares Vasil Kobaidze.  During that period the Court trial was still underway and holder of 22% of shares David Zilfimian (who was Director before Zviad Amiridze) claimed that he was dismissed illegally. 

Zviad Amiridze’s Offshore Business

Business Registry data shows that TV-Company First Stereo Director Zviad Amiridze is also representative in Georgia of Chemexim International Company registered at Marshal Islands offshore zone.  Georgian Parliament MP David Bezhuashvili is partner of the given offshore company as he has indicated in his 2012 property declaration. 

Chemexim International owns Holding Georgian Industrial Group LLC.  Until legislation was amended and offshore companies were restricted from owning broadcasters, Holding Georgian Industrial Group was owner of three TV-Companies – Rustavi 2, Mze and First Stereo. 

For the moment along with Holding Georgian Industrial Gropu the Chemexim International owns following Companies – Polyplastic LLC, Georgian Business Week LLC, which publishes a newspaper with the same name.  It also owns Technonet LLC, Georgian Media Holding LLC, Institute of Public Opinion Research and Marketing (research company IPM) which has won several governmental tenders this year. 

Chemexim International also owns Business Center Saburtalo LLC.  The given Company owns Tbilisi Foods and Beverages Company LLC the Director of which is also Zviad Amiridze. 

First Stereo Director General also manages Don Impex LLC and Ioris Resursebi LLC. 

Chemezim International owned Holding Georgian Industrial Group (GIG), as published on their website, “is the largest holding in Georgia and owns extensive business portfolio, which includes coal mining, electricity production, natural gas realization, real estate and whole spectrum of other business sectors.” 

It owns Saknakhshiri LLC, Gasoil LLC, Kutaisi Automechanical Factory LLC, Nakaduli LLC, Tiflis City LLC (GIG Gropu.  It also owns 20% of Georgian Beer Company J-SC (Beer Zedazeni). 

GIG owns Georgian International Energy Corporation LLC which owns Autogas Pirveli LLC, Power Export LLC and Adjara Autogas LLC 59%.  

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