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

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

Date: January 31, 2020
Jurisdiction: Sweden

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.


Belgian Court Grants Recognition of the Award

Date: December 20, 2019
Jurisdiction: Belgium

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).


The Luxembourg Court of Appeal Grants Recognition of the Award

Date: December 19, 2019
Jurisdiction: Luxembourg

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.


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

Date: December 2, 2019
Jurisdiction: U.S.

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.


Swedish Court Dismisses Appeals Against US$ 53 Million Attachment Made by the Swedish Bailiff

Date: July 5, 2019
Jurisdiction: Sweden

A District Court in Stockholm dismisses Kazakhstan’s and NBK’s separate appeals against various attachment orders made by the Swedish bailiff concerning Kazakh state property in Sweden.

The assets in question represent proceeds of shareholdings and related economic rights in various Swedish listed companies owned by Kazakhstan as part of the savings portfolio of the National Fund. These proceeds are currently blocked in the Swedish bailiff’s escrow account in the sum of SEK 790,284,526 (approximately US$ 53 million) pending final resolution of the Swedish award enforcement proceedings before the Swedish Supreme Court.