Argentem Creek Partners’ lawyers file motion to dismiss “improper collateral attack” on binding award and compel Outrider into arbitration
Lawyers acting for Argentem Creek Partners filed a motion in the United States District Court for the Southern District of New York seeking to dismiss Kazakhstan’s suit, as well as a separate motion to compel Outrider to submit its claims to arbitration.
Kazakhstan’s claims are identical to issues raised in previous proceedings, the motion to dismiss argues, noting that these were already litigated and decided in other courts.
Paul Butler, partner at Akin Gump and counsel to Argentem Creek Partners commented:
“Foreign states with deep pockets cannot be allowed to victimise American investors with endless re-litigation. In this case, Kazakhstan is damaging the image it wants to create as an investor-friendly destination. Rule of law requires following the law. Kazakhstan needs to pay the award since it has exhausted its legal remedies in Sweden.”
The motion to compel arbitration is based on the grounds that the Sharing Agreement signed between Tristan’s noteholders in 2012 mandates the use of arbitration to resolve differences rather than filing of complaints in the American courts and that all noteholders agree to arbitrate when they purchase notes. Outrider, who decided to join Kazakhstan earlier this year in backing the fictional fraud claims, is a signatory to the Sharing Agreement.
The motion to dismiss is available here.
The motion to compel arbitration is available here.