Political party named in honour of Georgian media mogul

A political party competing in the upcoming local elections has been named after the late-Georgian businessman Badri (Arkadi) Patarkatsishvili.

Former Parliament member and one of the founders of the party Valeri Gelbakhiani announced the official name of the party, which has been registered with the Georgian Central Election Commission (CEC).

Patarkatsishvili was one of the richest men in Georgia and founded Media Holding Imedi in 2001. He died in 2008 in England.

Meanwhile Gelbakhiani is set to run in the June 15 elections to represent the Tbilisi district.

The Rustavi city Mayoral candidate representing the party is Erosi Kitsmarishvili, who is one of the founders of local television company Rustavi 2.

In the near future the party will nominate its candidates to stand in seven electorates in Tbilisi.

"We were not going to participate in the elections but it was the desire of activists. I was chosen as a candidate in the Gldani electoral district because I am well aware of the problems of this area,” Gelbakhiani said.

The man, in which the party was named after, Badri (Arkadi) Patarkatsishvili, was one of the richest men in Georgia. He founded Media Holding Imedi in 2001.

Patarkatsishvili was a Georgian businessman who was also extensively involved in politics. He contested the 2008 Georgian presidential election and came third with about seven percent of the votes.

In late 2007 he became embroiled in a political scandal after former Defense Minister Irakli Okruashvili accused Mikheil Saakashvili, the then President of Georgia, of planning to assassinate Patarkatsishvili.

In February 2008 Patarkatsishvili collapsed and died in his lavish home in Surrey, England. The 52-year-old is believed to have died from a heart attack.