Kazakhstan, Investors Tussle At Virtual Trial Over $530M Fund

Law360, London (March 26, 2020, 7:25 PM GMT) -- A trial over the rights to $530 million currently being held by BNY Mellon kicked off virtually Thursday, with Kazakhstan's lawyer arguing the cash should be released as it does not meet the criteria set out in the freezing order at the heart of the dispute.

The High Court in London is hearing a case from Belgium to determine whether $530 million currently being held by BNY Mellon is subject to a so-called protective garnishment order. (AP) At issue is whether the $530 million in cash deposits held in a National Bank of Kazakhstan account at a BNY Mellon London branch...

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