Library

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

English Court Rejects National Bank of Kazakhstan’s (NBK) Debt Claim Against BNY Mellon

The High Court of Justice in London rejects NBK’s US$ 530 million debt claim against BNY Mellon for the latter’s refusal to release the National Fund assets frozen as a result of the parallel Belgian enforcement proceedings, by agreeing with the Stati Parties that the decision with regards to BNY Mellon is to be determined by the Belgian courts in due course.

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U.S. Appellate Court Confirms Dismissal of the RICO Claim

Date: February 21, 2020
Jurisdiction: U.S.
Status: Closed
In favour of: Tristan Oil

The U.S. Court of Appeals for the District of Columbia Circuit confirms the lower district court ruling from March 30, 2019 which dismissed Kazakhstan’s RICO claim against the Stati Parties.

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Swedish Appellate Court Rejects Second attempt by Kazakhstan to Re-litigate the Award

Date: January 31, 2020
Jurisdiction: Sweden
Status: Closed
In favour of: Tristan Oil

The Svea Court of Appeal in Sweden dismisses Kazakhstan’s second challenge of the award filed on the basis of alleged new evidence. The award is therefore again confirmed to be final, binding and non-appealable for all intents and purposes.

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Belgian Court Grants Recognition of the Award

Date: December 20, 2019
Jurisdiction: Belgium
Status: Closed
In favour of: Tristan Oil

The Brussels Court of First Instance grants recognition with respect to the award, dismissing all of Kazakhstan’s challenges to the award (including based on the fraud allegations).

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The Luxembourg Court of Appeal Grants Recognition of the Award

Date: December 19, 2019
Jurisdiction: Luxembourg
Status: Closed
In favour of: Tristan Oil

The Luxembourg Court of Appeal grants recognition with respect to the award. The Court finds that Kazakhstan has failed to prove the existence of any fraud. This decision is binding and enforceable as a matter of Luxembourg law notwithstanding any further appeals.

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The Stati Parties Ask the U.S. Court to Sanction Kazakhstan

Date: December 2, 2019
Jurisdiction: U.S.
Status: Pending
In favour of: Tristan Oil

The Stati Parties file a motion for sanctions and contempt before the federal district court in Washington, D.C. given Kazakhstan’s repeated breaches of its discovery obligations stemming from previous U.S. court orders in the local award enforcement proceedings.

This matter is currently stayed pending Kazakhstan’s compliance with its discovery obligations.

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