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An archive of the key court rulings in the Tristangate dispute.
U.S. Federal Court Rebukes Kazakhstan for Non-Compliance with Court Orders
The federal district court in Washington, D.C. compels Kazakhstan once again to provide discovery of its assets on a worldwide basis – including assets of various Kazakh state instrumentalities such as NBK and Samruk-Kazyna.
The Judge also rebukes Kazakhstan and its legal counsel for the breaches of the previous U.S. court orders regarding discovery:
“Don’t get me wrong, the Republic of Kazakhstan had every right to litigate the petition to confirm the arbitral award, and they had every right to appeal my decision. But those proceedings are over. These are post-judgment proceedings. And the Republic of Kazakhstan and its counsel needs to get that into their heads because the level of intransigence that we’ve seen to date is not acceptable and it officially ends today.”
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Lawyers for Argentem Creek Partners and its CEO Daniel Chapman filed a motion to dismiss the claims brought by Kazakhstan in its Third Amended Complaint in the Supreme Court of New York. The motion argues that New York law provides the Court with multiple, independent grounds to dismiss Kazakhstan’s frivolous lawsuit with prejudice.
A federal judge in New York on February 10 granted the Argentem parties motion to compel arbitration against plaintiff Outrider thereby dismissing them from Kazakhstan’s vexatious litigation against U.S. investors. The Court also granted the motion by Kazakhstan to remand the case to New York State Court where Argentem’s motion to dismiss Kazakhstan’s claims will be decided.
The Supreme Court of Italy rejected an appeal brought by the Republic of Kazakhstan against recognition of the $544 million “Tristangate” Award on the grounds that it was procured by ‘fraud’. The Supreme Court of Italy upheld the earlier judgment of the Rome Court of Appeal handed down in February 2019.
The Swedish Supreme Court upheld a $90 million freeze on Kazakhstan National Fund’s assets in Sweden. The court ruled that the seized assets representing part of Kazakh National Fund are not protected by sovereign immunity as a matter of international and Swedish law. The Swedish Supreme Court remanded the case to the Svea Court of Appeal for further consideration with respect to other outstanding questions.