Britain’s court has begun hearings into the lawsuit filed against BGEO Plc group, - Loyal Capital Group S.A has told InterPressNews.

According to the company, the Loyal Capital Group S.A Company, owned by Georgian businessman Roman Pipia, has filed a lawsuit for unlawful requisition of the property of Rustavi Nitrogen, which was initiated by Bank of Georgia.

The attorney of the businessman says that the British judge rejected the claim of the BGEO Plc Group as if Roman Pipia was not a victim in this case.

“Roman Pipia requires about USD 944 million from the BGEO Plc group in losses caused by unlawful appropriation of Rustavi Nitrogen Plant,” the attorney said.

Loyal Capital Group S.A reported three months ago that the Russian company Sistema, Georgia Capital and EU Investment were in negotiations over selling of the Rustavi Nitrogen assets. Representatives of Roman Pipia Company explain that the information is true and the negotiations are still underway.

"The Russian company SISTEMA and the BGEO Plc Group have been holding secret negotiations since August of 2016. The talks aim to seize and distribute the property of Rustavi Nitrogen in order to break the 205 million project signed between the European Bank for Reconstruction and Development (EBRD) and Rustavi Nitrogen on June 30 of 2016.

To the question whether Roman Pipia and BGEO Group can reach an agreement in exchange for a certain amount of money, Roman Pipia’s attorney stated that :

"There is always a chance of reaching an agreement, but in this case, its success depends on time. If the dispute is completed in court, this amount will be no less than USD 944 million."