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Liberty Bank and National Bank Offer Negotiations to Former Owners of People’s Bank

October 23, 2012

Former owners and founders of People’s Bank (currently Liberty Bank) decided not to diffuse the statement they had provisionally announced on October 19. One of the former share-holders of the bank, Giorgi Goguadze said at a briefing that after they had announced that they would hold a press-conference, representatives of Liberty Bank and National Bank contacted them and offered negotiations. Consequently, they stated that at the moment they are withholding any comments in order not to damage the negotiations.

“We are not going to speak in an aggressive tone. We are starting a dialogue and we will draw conclusions later. We will also keep you informed about the ongoing negotiations. As a result of consultations we have held, we are not going to publish the statement we provisionally announced because we do not wish to make any unilateral claims,” Goguadze said.

He said that the new government of Georgia advised everybody to overcome all misunderstandings through negotiations. So, they decided that this form of communication was the best solution.

Additionally, Giorgi Goguadze apologized to journalists that they did not satisfy their expectations and did not provide them with interesting information at the press-conference.

The former owners of People’s Bank did not reply to journalists’ questions and left the hall.

Information about the intention of former founders of the bank Irina Jincharadze, Aliona Kovalenko and Giorgi Goguadze to make a special statement was spread on October 18.

The founders sold People’s Bank in 2009. At that time it was one of the largest banks and was sold for 12.51 million lari. According to information released, a British investment group purchased it.

The bank was linked with the name of Georgian businessman Mamuka Jincharadze, who was killed in 2005 in Moscow. The bank was founded in 2002. Shareholders of the bank were: Giorgi Goguadze (9.59%) who was a majortiarian MP of United National Movement from Isani district; Irina Jincharadze (24.88%), Ltd Starcord Resources (20.18%), Elene Kovalenko (20.18%) and other smaller shareholders.

In 2009, former director-general of the Bank of Georgia and 2007-2008 prime-minister of Georgia Lado Gurgenidze became leader of the bank.

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