Kazakhstan Wins Costs After $506M Award Suit Abandoned

Law360, London (July 3, 2019, 9:24 PM BST) -- The Republic of Kazakhstan will be able to recoup some of the costs it has paid out while fighting a London lawsuit brought and later dropped by two Moldovan oil and gas investors over the enforcement of an arbitration award worth more than $500 million, a London judge has ruled.

In a judgment handed down Tuesday, Judge Richard Jacobs said Anatolie Stati, his son Gabriel and two of their companies — Ascom Group SA and Terra Raf Trans Traiding Ltd. — will have to pay Kazakhstan the costs the Central Asian country incurred between July 1, 2015, and Feb. 26, 2018,...

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