Kazakh Bank Must Fight Investor's Asset Freeze in Belgium

Law360, London (May 4, 2020, 4:03 PM BST) -- A judge said Monday that Kazakhstan's central bank will have to go to Belgium to lift a freeze on its cash deposits in London as there is little reason to think the English courts will interfere again in an attempt by Moldovan investors to collect an arbitration award against Kazakhstan.

High Court Judge Nigel Teare refused to give the National Bank of Kazakhstan permission to challenge his refusal to order BNY Mellon to release the central bank's funds. The decision follows a ruling in April that the English courts were in no position to have the funds discharged, even though the money belongs...

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