Library

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

U.S. Federal Court Rebukes Kazakhstan for Non-Compliance with Court Orders

The federal district court in Washington, D.C. compels Kazakhstan once again to provide discovery of its assets on a worldwide basis – including assets of various Kazakh state instrumentalities such as NBK and Samruk-Kazyna.

The Judge also rebukes Kazakhstan and its legal counsel for the breaches of the previous U.S. court orders regarding discovery:

“Don’t get me wrong, the Republic of Kazakhstan had every right to litigate the petition to confirm the arbitral award, and they had every right to appeal my decision. But those proceedings are over. These are post-judgment proceedings. And the Republic of Kazakhstan and its counsel needs to get that into their heads because the level of intransigence that we’ve seen to date is not acceptable and it officially ends today.”

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

Date: July 5, 2019
Jurisdiction: Sweden
Status: Closed
In favour of: Tristan Oil

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.

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Dutch Appellate Court Confirms the Kashagan Shares Attachment for a Second Time

Date: May 7, 2019
Jurisdiction: Netherlands
Status: Pending
In favour of: Tristan Oil

The Amsterdam Court of Appeals upholds the US$ 5.2 billion share freeze of Kazakhstan’s stake in the Kashagan oil field held via Samruk-Kazyna.

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U.S. Appellate Court Confirms the Award

Date: April 19, 2019
Jurisdiction: U.S.
Status: Closed
In favour of: Tristan Oil

The U.S. Court of Appeals for the District of Columbia Circuit confirms the previous court ruling from March 23, 2018 that the award is valid and enforceable as a binding U.S. judgment. The ruling states that: “We find that it was not an abuse of discretion for the District Court to deny Kazakhstan’s motion because the District Court based its ruling on multiple valid grounds. We further agree with the District Court that Kazakhstan improperly presented new facts in its motion for reconsideration that it had not introduced in its original motion to supplement.”

As a result of this ruling, any non-state immune Kazakh state assets on U.S. soil become amenable to attachment and foreclosure by the Stati Parties.

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