A Swedish Court Orders Kazakhstan to Pay in Landmark Arbitration Case

June 30, 2023 vlast.kz

Around $75 million will be transferred from Kazakhstan’s budget to the companies controlled by a Moldovan businessman, a Swedish court sentenced. The decision to dismiss an appeal from Kazakhstan’s side represents a milestone in a seemingly endless legal feud between the government and Anatol Stati, the former owner of oil companies that he claims were illegally expropriated in 2010.

The Svea Court of Appeal in Sweden had ruled in January that the claimants, the so-called Stati Parties, could collect funds and assets for $75 million that the bailiff had previously collected from the government of Kazakhstan. The court had also ordered the Kazakhstani side to pay $1.5 million in legal fees. Kazakhstan appealed the decision and on June 14 the same court dismissed the appeal, making the decision final.