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MKD Law acted for TAV Urban Georgia, operator of Tbilisi and Batumi international airports, in the most complex insolvency proceedings in history of Georgia.
TAV Urban Georgia is the largest creditor of Georgian Airways, a flag carrier airline of Georgia, which initiated insolvency proceedings at the end of 2021 based on the newly adopted Law of Georgia on Rehabilitation and Collective Satisfaction of Creditors.
Importantly, the extensive working process has been concluded by the decision of the creditors to agree on rehabilitation plan, which was further approved by Tbilisi City Court. The case of rehabilitation can serve as a good test for the law, which entered into force only in 2021.
The parties engaged in the proceedings are hopeful that the process will lead to the rehabilitation of the debtor and to the satisfaction of the creditors, including the operator of Georgia’s main airport, represented by MKD Law.
Legal crew dealing with the case was comprised of Senior Partner, Archil Kbilashvili and Partner, Sandro Samadbegishvili.
