Belgian Court Rejects Kazakh Bid To Lift All Attachments, Extends Hold On US$530 Million To Back Judgment For Statis

BRUSSELS, May 29, 2018 /PRNewswire/ -- The Brussels Court of First Instance (attachment section) on May 25, 2018, rejected Kazakhstan and the National Bank of Kazakhstan's petition to lift the Stati Parties' attachment of assets held by the Bank of New York Mellon (BNYM).....

US COURT GRANTS ENFORCEMENT OF A US$520 MILLION AWARD AGAINST THE REPUBLIC OF KAZAKHSTAN

New York, NY – On March 23, 2018, the U.S. District Court for the District of Columbia issued its ruling in Stati et al. v. Rep. of Kazakhstan, a long-running litigation concerning the Stati Parties’ efforts to enforce a $520 million arbitral award that issued in their favor under the Energy Charter Treaty. The court’s ruling had two elements — it refused, for the second time, Kazakhstan’s request to consider evidence it claimed demonstrated that the arbitral award was “procured by fraud,” and it recognized the arbitral award, meaning that a U.S. court judgment will be issued for the full amount of the award....

DUTCH COURT UPHOLDS $5.2 BILLION ASSET FREEZE ON KAZAKHSTAN OIL FIELD

Frozen Assets Securing a $520 Million Award Against Republic of Kazakhstan

New York, NY – On January 5, 2018, Amsterdam District Court issued a judgment (the “Judgment”) in which it upheld an earlier ex parte attachment granted by the same court on September 8, 2017 to Anatolie Stati, Gabriel Stati, Ascom Group S.A. and Terra Raf Trans Traiding Ltd (together, the “Stati Parties”) with respect to the Republic of Kazakhstan’s shareholding in the Dutch entity KMG Kashagan B.V. (“Kashagan”) which shareholding is held via the Kazakh sovereign wealth fund Samruk-Kazyna (“Samruk”). Through its stake in Kashagan, which has a nominal value of approximately US$5.2 billion, the Kazakh State participates in the international consortium relating to the Kashagan oilfield, one of the largest offshore oilfields in the Caspian Sea. Other members of the consortium include Eni, Royal Dutch Shell, Total, ExxonMobil, China National Petroleum Corporation and Inpex. ...

TO WHOM IT MAY CONCERN

Re: Anatolie Stati, Gabriel Stati, Ascom Grup S.A., and Terra Raf Trans Traiding Ltd (together, "Ascom Claimants") v. The Republic of Kazakhstan

In response to certain recent mass media publications which contain updates as to recent developments with regard to certain legal proceedings involving our clients, Ascom Claimants, we wish to clarify as follows. ...

MAJOR VICTORY FOR LINDAHL'S CLIENT IN 500 MILLION DOLLAR DISPUTE AGAINST KAZAKHSTAN

Lindahl represented the Moldovan investors Anatolie and Gabriel Stati and their companies, Ascom Group SA and Terra Raf Trans-Traiding Ltd. in an investment dispute with Kazakhstan, who challenged the arbitral award at the Court of Appeal. ...

King & Spalding Wins $500 Million Arbitration Award Against Kazakhstan; Largest Award Ever Under the Energy Charter Treaty

STOCKHOLM, Sweden, January 8, 2014 — King & Spalding secured an arbitration award of $506 million, plus interest, against the Republic of Kazakhstan on behalf of Moldovan investors Anatolie and Gabriel Stati and their companies, Ascom SA and Terra Raf Trans Traiding Ltd. The award is the largest award under the Energy Charter Treaty and the third-largest treaty arbitration award in history. ...

Tristan Oil Announces $506 Million Arbitration Award
Against Republic of Kazakhstan.

CHISINAU, Moldova -- Tristan Oil Ltd. (Tristan) announced today that parties associated with Tristan, including its shareholder Anatolie Stati, along with Gabriel Stati, Ascom Group S.A., and Terra Raf Trans Traiding Ltd. (the Claimant Parties), secured an award of $506 million, plus interest (the Arbitration Award), in their arbitration against the Republic of Kazakhstan for breach of the Energy Charter Treaty (the Arbitration). The Arbitration arose following Kazakhstan’s seizure of the Claimant Parties’ investments in Kazpolmunay LLP and Tolkynneftegaz LLP, which are Guarantors under Tristan’s Senior Secured Notes due 2016 (the Modified Tristan Notes). ...