Dutch Supreme Court Revives Kazakh Fight Over Asset Freeze

Law360, London (December 23, 2020, 3:52 PM GMT) -- A Dutch appeals court has allowed Kazakhstan's challenge to a ruling that froze its interest in a consortium operating in an oil field in the Caspian Sea, as two Moldovan investors attempt to collect an arbitration award worth more than $500 million against the Central Asian country.

The Supreme Court of the Netherlands set aside a May 2019 decision by the Amsterdam Court of Appeal on Friday, after finding that the lower court had incorrectly applied international law on state immunity when assessing whether a stake in Dutch company KMG Kashagan BV is eligible for attachment to the arbitration award.

The dispute...

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