An archive of the key court rulings in the Tristangate dispute.
The Brussels Court of Appeal upholds challenge brought by Kazakhstan
The Brussels Court of Appeal issued a decision upholding the challenge brought by Kazakhstan against the enforcement of the $545 million Energy Charter Treaty Award in Belgium. The ruling is limited to the Belgian jurisdiction only and did not affect the validity of the award in Sweden.
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The High Court of Justice in London rejects NBK’s US$ 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.
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.
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.
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 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.