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Saturday 7 September 2019

Kazakhstan Takes $506 mln Award Fight to US High Court


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WASHINGTON (Law360) — Kazakhstan has urged the U. S. Supreme Court to nix a ruling confirming a $506 mln arbitration award issued to two Moldovan oil and gas investors, arguing the underlying decision “threatens the integrity and international reputation of this country’s judiciary.”

The Washington D.C. Circuit had refused earlier this year to overturn the ruling confirming the award, won by Anatolie Stati and his son Gabriel Stati after Kazakhstan seized their petroleum operations in the country in 2010. In their decision, the appellate court panel concluded the lower court had not erred when it refused to consider evidence that the Statis had wrongly inflated the value.

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