Complaint > GEORGIA - Jvari-Khorga Interconnection

Eligibility: Eligibility Assessment Report

...financial difficulties faced by the Contractor. Reportedly, other employees as well as Georgian sub-contractors experienced late or missing salaries/payments. • The Contractor stated in a communication to EnergoTrans dated 22 May 2017 that the dispute between the Contractor and the Complainant in relation to the termination of the Complainant’s appointment (including the payment of the outstanding salary) is expect...

Complaint > GEORGIA - Jvari-Khorga Interconnection

Compliance Report: Compliance Review Report

...financial information was then checked. An examination of JSL’s annual reports and corporate balance sheet showed the company to be in good financial shape, with the Client’s auditors’ only expressing concern regarding JSL Group’s purchase of a factory in the US, which left the company with significant but manageable debt having regard to its cash-flow position. JSL’s financial position was rechecked at the second stage of the tendering process. JSL is currently insolven...

Complaint > GEORGIA - Jvari-Khorga Interconnection

Monitoring: Compliance Review Monitoring Report I

...financial resources required to implement the recommendations considered appropriate. The final Compliance Review Report was submitted for information to the EBRD’s Board of Directors, along with the Management Action Plan. The Board approved the Management Action Plan and the Compliance Review Report, Management Action Plan and Complainant’s comments were publicly released on 20 July 2018 in the PCM Register on the EBRD website. ...