Who are the owners of CT Park

Who are the owners of CT Park

In 2007, when CT Park was revealed as the winner of the tender launched by Tbilisi City Hall for parking arrangement in the capital, founders of the company were Israel-based limited companies Shohar Parking Services and Amagon. In 2011, Natan Shorer and David Pila, the owners of the companies, merged their businesses and since than Parking International, Ltd. has been the founder of CT Park.

As it becomes clear from the records of the Public Registry, upon all the assets of CT Park company tax lien was imposed in 2014, which is used by the Revenue Service to insure tax liability payment to the state in case of non-payment of taxes envisaged by the tax legislation of Georgia.

Tbilisi City Hall made a decision to terminate contract with CT Park, as a result of which decision, transport company of Tbilisi City Hall will temporarily take over the company’s functions as from 10th April.

CT Park claims that unilateral termination of the contract by the City Hall is illegal and is planning to bring the case to the court. According to the management of the company, this decision is the best example of how the government of Georgia treats foreign investors.

“The entire state apparatus, including various branches of government, have been used in a well-coordinated, concerted effort to unlawfully drive CT Park out of Georgia. The authorities have acted in bad faith and disregarded continuous communications from the investor as well as the fact that there are two pending court cases whereby CT Park challenges the absurd allegations that it has violated Georgian law. The authorities have attempted to create an illusion of legal process where the end result (illegal termination of contract due to the interests of certain groups standing above the law and the judiciary) was predetermined. CT Park will consider all options and remedies available to it under Georgian and international law. CT Park owners will also bring this information to the attention of Israeli and international business community. This will no doubt reflect negatively on the Georgian investment climate, which apparently does not concern powerful bureaucrats acting in self-interest“, – reports CT Park.

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