A London-based Company’s Role in Georgia’s Political Turmoil
Pont Street in London’s affluent Belgravia district houses the unassuming office of Hunnewell Partners, a private equity and litigation funding firm. This seemingly unremarkable company holds a significant stake in Georgia’s media landscape through its ownership of Imedi TV, the country’s most popular broadcaster. Imedi TV, however, stands accused by the EU’s foreign affairs service of acting as a “propaganda megaphone” undermining Georgia’s aspirations for EU membership, disseminating pro-Russian rhetoric and echoing Kremlin-style disinformation. Hunnewell Partners maintains that Imedi TV operates with editorial independence and constitutes only a small part of its holdings, while Imedi TV denies the EU’s allegations, rejecting claims of pro-Russian and anti-Western bias. This controversy surrounding Imedi TV highlights Georgia’s precarious political situation, and Hunnewell Partners’ involvement has become a focal point of debate regarding the country’s future.
Georgia, having declared independence from the Soviet Union in 1991, is constitutionally obligated to pursue EU membership. In recent years, however, the country’s political landscape has undergone a dramatic shift under the leadership of the Georgian Dream party, led by Bidzina Ivanishvili, Georgia’s wealthiest man. Western governments, the EU, and various civil society groups accuse the Georgian Dream government of steering the nation back towards Russia’s sphere of influence, undermining democratic institutions, and imprisoning opposition leaders. With crucial municipal elections approaching in October, international concern mounts regarding Georgia’s democratic backsliding, fuelled by reports of repression of civil society and independent journalists, and the government’s refusal to allow election monitors from the Organization for Security and Co-operation in Europe (OSCE).
Imedi TV plays a central role in this political drama, accused of supporting an increasingly authoritarian regime. The broadcaster has engaged in actions seemingly designed to counter the UK government’s criticism of the Georgian government. Imedi TV aired footage, described as accidental, purporting to show a secret meeting between opposition figures and British embassy staff. The channel also broadcasted allegations from a Georgian parliament member that the British embassy was funding the opposition United National Movement party. Furthermore, Imedi TV and other pro-government media outlets have amplified culturally conservative narratives, such as criticizing UK politicians for same-sex marriage, in what NGOs perceive as a campaign promoting sexist hate speech and homophobia. Imedi TV, while acknowledging its viewers’ cultural conservatism, denies accusations of homophobia. The channel defends its reporting on the British embassy, claiming it was pursuing legitimate news stories and highlighting the importance of transparency in interactions between foreign embassies and political figures.
The controversy surrounding Hunnewell Partners extends beyond its involvement with Imedi TV. The company’s history, characterized by legal battles and accusations of questionable business practices, adds another layer of complexity to the situation. A UK Supreme Court case details a multi-million dollar lawsuit against Hunnewell Partners’ directors for breach of fiduciary duty, stemming from their involvement in the complex estate of deceased Georgian businessman Arkadi Patarkatsishvili. While the court did not find evidence of dishonesty, the judge expressed reservations about the credibility of the directors’ testimonies. The judgement described Irakli Rukhadze, a Hunnewell co-founder and chair of Imedi’s supervisory board, as “unusually focused” and potentially unconcerned with “lying in what he considered a good cause.” Similar concerns were raised about the conduct and testimony of another director, Ben Marson. Hunnewell Partners disputes the characterization presented by these selected quotes from the judgment, asserting they unfairly portray the company in a negative light.
The Georgian government’s transfer of Imedi TV to Hunnewell Partners in 2021 raised further concerns. A recent incident involving a British journalist, Will Neal, who investigated Hunnewell Partners’ ownership and history, has further fuelled suspicions. Following his reporting, Imedi TV and other pro-government outlets accused Neal of being part of a “deep state” conspiracy. Subsequently, Neal was denied re-entry into Georgia without explanation. While there is no evidence linking Hunnewell Partners directly to Neal’s ordeal, the incident highlights the increasingly hostile environment faced by journalists and researchers scrutinizing the government and its connections. Hunnewell Partners denies any involvement in the decision to bar Neal from Georgia and asserts its support for a free and independent press.
The situation in Georgia has drawn the attention of British MPs, who are urging the government to take action. Calls for sanctions against Bidzina Ivanishvili and his associates, including Irakli Rukhadze, are growing louder, particularly given Hunnewell Partners’ controversial history and its perceived role in supporting the Georgian Dream government’s agenda. Opposition figures and NGOs argue that the UK, as a safe haven for wealthy individuals, has significant leverage over the Georgian government. Ivanishvili’s extensive financial ties to the UK, including offshore companies revealed in the Pandora Papers, are seen as potential pressure points. Hunnewell Partners’ co-investment with Ivanishvili in a Georgian cement company adds further complexity. Hunnewell Partners maintains that the calls for sanctions are part of a smear campaign orchestrated by the Georgian opposition and denies any improper relationship with Ivanishvili. The company also points to Rukhadze’s resignation from a Russian water company as evidence of their commitment to complying with sanctions against Russia.
The case of Hunnewell Partners and its ownership of Imedi TV has become a test of the British government’s commitment to democracy in Georgia. As Georgia’s political trajectory raises concerns about democratic backsliding and increasing Russian influence, some observers see the situation as a pivotal moment for the future of the country and its relationship with the West. The UK’s response to this complex situation, and its willingness to utilize sanctions and other measures to promote democratic values in Georgia, remains to be seen.
