Turkish Mining Co. Wins Block Of UK Arbitration Funding

Law360 (March 26, 2020, 3:29 PM EDT) -- A London court has granted an injunction sought by Turkish mining company Koza Altin Işletmeleri AS to prevent its subsidiary from funding an arbitration claim their purported holding company, Ipek Investments Ltd., launched against the Turkish government.

In his Monday order, Deputy Judge Jeremy Cousins QC questioned the authenticity of a share purchase agreement related to Ipek Investments' control of the Koza Group, which includes Koza Atlin and Koza Ltd. — Koza Atlin's subsidiary. The agreement is an important part of the arbitration in which Ipek Investments and owner Hamdi Akin Ipek claim the Turkish government unlawfully seized control of the Koza Group,...

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