Mamuka Khazaradze and Badri Japaridze have lost their arbitration case over the Anaklia Port project at the International Centre for Settlement of Investment Disputes (ICSID) in Washington, according to Georgia’s Ministry of Justice.

The tribunal fully sided with the Georgian government, ruling that the failure of the Anaklia project was solely the responsibility of Khazaradze, Japaridze, and their partners, who failed to secure necessary funding. The government’s contract termination was found to be lawful, and no interference or obstruction by the state was identified.

The tribunal also rejected a $64 million claim from Dutch partner Bob Meyer, ordering him instead to pay $6.5 million to Georgia.

This marks the second defeat for the Anaklia Development Consortium, which also lost a $1.5 billion arbitration case in Paris last year.