Library

The federal district court in Washington, D.C. dismisses Kazakhstan’s complaint against the Stati Parties filed pursuant to the U.S. Racketeer Influenced and Corrupt Organizations (RICO) Act by describing this lawsuit as “ill-advised” and “an improper use of the auspices of this Court to revive and prolong a dispute that is over”.

The Rome Court of Appeal recognizes the award in Italy, dismissing all of Kazakhstan’s challenges to the award (including based on the fraud allegations).

The Court of Appeal in England allows the Stati Parties’ to discontinue all English court proceedings, after the High Court had initially granted Kazakhstan’s application for a trial based on the original fraud allegations made by Kazakhstan.

The Brussels Court of First Instance rejects Kazakhstan’s and NBK’s appeals against the original attachment order with respect to the National Fund assets held by BNY Mellon granted on October 11, 2017. With the Stati Parties’ consent, the Court reduces the attachment value from US$ 22.6 billion to US$ 530 million given the then size of the award.

The federal district court in Washington, D.C. rules that the award is valid and enforceable as a binding U.S. judgment following an application by the Stati Parties to confirm the Award on U.S. soil. In doing so, the U.S. court rejects the fraud allegations brought forward by Kazakhstan.

The Stockholm District Court upholds its previous decision from August 21, 2017 allowing the Swedish bailiff to levy attachments on Kazakh state property on Swedish soil by dismissing Kazakhstan’s challenges to the original ruling.