Kazakhstan Leans On Fraud Claims In Disputing $500M Award

Law360, London (August 27, 2019, 7:41 PM BST) -- Kazakhstan argued in a Dutch court Tuesday that two Moldovan investors should be blocked from collecting a $500 million arbitration award over a seized oilfield, claiming the pair committed procedural fraud that should make the ruling unenforceable in the Netherlands.

The Republic of Kazakhstan argued at the Amsterdam Court of Appeal that Anatoli Stati, his son Gabriel and their companies Ascom Group SA and Terra Raf Trans Traiding Ltd. submitted false information to the Swedish arbitration tribunal in 2013 in order to obtain a favorable award.

The country claimed that, among other matters, the investors inflated the value of their investment...

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