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Kazakhstan Can't Get Freeze Order Nixed In $506M Award Row

Law360 (May 8, 2019, 9:46 PM EDT) -- A Dutch appeals court has affirmed a ruling freezing Kazakhstan's interest in a consortium operating in one of the largest offshore oilfields in the Caspian Sea, according to two Moldovan oil and gas investors looking to collect a more than $506 million arbitral award against the country.

The Amsterdam Court of Appeal ruled on Monday that Kazakhstan's stake in the Dutch entity KMG Kashagan BV, through which the Kazakh state participates in an international consortium that holds a production sharing contract for the Kashagan oilfield, had been properly frozen, according to a statement issued by investors Anatolie and Gabriel Stati and...

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