Library

An archive of the key court rulings in the Tristangate dispute.

Swedish Supreme Court upholds $90 million freeze on Kazakhstan National Fund’s assets in Sweden

Date: November 18, 2021
Jurisdiction: Sweden
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The Brussels Court of Appeal upholds challenge brought by Kazakhstan

Date: November 16, 2021
Jurisdiction: Belgium
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Kazakhstan’s Former Embassy Property at Risk Over Tristangate

Date: July 19, 2021
Jurisdiction: U.S.

The Stati Parties petitioned the Washington D.C. federal district court for an emergency attachment of the former residence of the Republic of Kazakhstan’s ambassador in the District of Columbia, arguing that it is now used for commercial rather than diplomatic purposes.

The relief sought is in response to Kazakhstan’s continued refusal to honour the fully adjudicated US$556 Million Tristangate Award that was issued by a Swedish arbitration tribunal in 2013.

The property is presently rented out to a translation school and a remodelling company on a commercial basis, according to a filing by the Stati parties, and therefore no longer protected by sovereign immunity.

The motion asks for an order that the property cannot be sold for the next 180 days and, if the property were to be sold that the proceeds are paid into a designated court escrow account.

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Lawyers for Argentem Creek Partners re-file a motion to dismiss

Date: July 15, 2021
Jurisdiction: U.S.

Lawyers for Argentem Creek Partners have re-filed a motion to dismiss, following Republic of Kazakhstan’s decision to amend their original complaint last month.

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Kazakhstan Suffers Double Defeat in Struggle to Avoid Payment of Tristangate Award

Date: June 29, 2021
Jurisdiction: Belgium

The Brussels Court of Appeal has rejected Kazakhstan’s challenge to a $530 million attachment of assets held via its National Fund with BNY Mellon in Brussels.

The asset attachment, originally at a value of $22.6 billion, is an enforcement measure against Kazakhstan’s continued failure to pay more than $500 million awarded to the Stati Parties by a Swedish arbitral tribunal in 2013. The Stati Parties later agreed to limit the attachment to $530 million, reflecting the approximate value of the Energy Charter Award at the time. The attachment value has since grown with interest to over $540 million.

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